Government hints at CGT climbdown
The Government has hinted that it may be about to climb down over its proposed increase to Capital Gains Tax (CGT) from 18% to 40%.
Work and Pensions Secretary Iain Duncan Smith told the BBC that no definite plan had been decided. He said Chancellor George Osborne had discussed exemptions so as not to "harm entrepreneurs". Deputy Prime Minister Nick Clegg added a few days later that homeowners may be protected by exempting financial gains made as a result of inflation.
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