AssetID: 56095462
Headline: UNCAPTIONED: Healey Rejects Calls To Raise Capital Gains Tax In Budget
Caption: Healey Rejects Calls To Raise Capital Gains Tax In Budget. Chancellor John Healey has rejected calls from some Labour MPs to increase Capital Gains Tax in next week's Budget. Cabinet ministers Wes Streeting and Louise Haigh had previously supported raising the tax before Andy Burnham became prime minister in July. Capital Gains Tax is charged on profits made when assets such as shares or second properties are sold. Healey is reportedly minded not to increase the tax following warnings that higher rates could reduce government revenues if wealthy people leave the UK or delay selling assets. HMRC previously estimated that raising the higher rate by 10 percentage points could reduce Treasury receipts by £3.6 billion in 2028-29. Healey has said he wants government policies to encourage wealth creation, investment and profits in British businesses. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Chancellor,John Healey,Labour,Government,UK,rejected,calls,MPs,increase,Capital Gains Tax,next week,Budget,Wes Streeting,Louise Haigh,UK Prime Minister,Andy Burnham,assets,shares
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