Yes, man’s a cretin

Capital gains tax rates in the UK should be the same as income tax rates, and the vast majority of people agree, and that could raise many billions of pounds a year for the UK exchequer.

Inflation. If rates are equalised then you need to have indexation added back into the system. Otherwise you’re just taxing the decline in the value of money. And there’s no guarantee – at all, rather the other way in fact – that adding indexation back into the system will lead to higher tax revenues.

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