Written question asked by Hilton Dawson (Labour) on Monday, 15 November 2004, in the House of Commons. It was due for an answer on Thursday, 18 November 2004. It was answered by John Healey (Labour) on Thursday, 18 November 2004 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will replace the system of reliefs offered to those liable for capital gains tax with a sliding scale based upon the length of time that an asset has been owned.

Answer: Mr. Dawson: To ask the Chancellor of the Exchequer if he will replace the system of reliefs offered to those liable for capital gains tax with a sliding scale based upon the length of time that an asset has been owned. [199112] John Healey: Taper relief, which is one of a number of capital gains tax reliefs available, already works on a sliding scale, and reduces chargeable gains in part according to the length of time an asset has been held after 5 April 1998 or the date of acquisition if later.

Secondary information