Proceeding contribution from Rachel Reeves (Labour) in the House of Commons on Thursday, 24 June 2010. It occurred during Budget debate on Budget debate.

Capital Gains Tax (Rates)

The right hon. Gentleman talks about the IFS numbers on the distributional impact. Does he agree with the following numbers from the IFS? The impact of the measures announced on Tuesday on the incomes of the poorest—the bottom—decile will be minus 2.6%, whereas it will be minus 1.5% for the next two deciles, then minus 1.4%, minus 1.3%, minus 1.1%, minus 0.9%, minus 0.6%, minus 0.6% and minus 0.7%. So the bottom decile will see a reduction in their income of minus 2.6% and the top decile will see a reduction in their income of minus 0.7%. Is that regressive or progressive?

Secondary information

Type: Proceeding contribution
Reference: 512 c447
Session: 2010-12
Chamber / Committee: House of Commons chamber
Subjects: Bank services Climate change Capital investment Housing Environment protection Government assistance Economic situation Economic growth Forecasts National income Public expenditure Pollution control Public sector debt Standards Taxation VAT Institute for Fiscal Studies Office for Budget Responsibility Bank levy Sheffield Forgemasters Budget June 2010
Link: View this Proceeding contribution on www.publications.parliament.uk

Capital Gains Tax (Rates)

Secondary information

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