The chancellor has further fueled speculation that she plans to increase capital gains tax when she refused to rule out the move during a TV interview.
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Rachel Reeves was interviewed by Bloomberg during her trip to the US, where she wants to boost investment in Britain.
In an earlier interview for the News Agents podcast, she admitted, “I think we’re going to have to raise taxes in the budget,” but did not specify which ones she would target.
Speaking from New York last night, she was asked in the latest interview if she was considering increasing CGT.
She said: “We have a budget on October 30 and we will set out our policies then, but it is always important to get the balance right when deciding on tax policy.
“Of course you need to raise the revenue to fund vital public services, but we also need to grow the economy.
“I will not do anything that makes it more difficult to achieve that economic growth and prosperity.”
Last month, Reeves launched a scathing attack on the previous government, saying the Tories had “covered up” the state of the country’s finances.
She said they had left her with a “£22 billion black hole” and warned she would have to make tough decisions to fix it.
It is thought she plans to increase the rate of CGT in line with income tax.
Analysis by Quilter last week found that landlords in this case will have to pay an average of £11,000 extra when selling property.
In 2022/2023 the Government received over £14 billion in CGT payments and any increase in tax rates could provide a further boost to revenues.
Currently, basic rate taxpayers are charged 18% of profits, while higher rate taxpayers are charged 24%.
An increase in rates in line with income tax would increase these figures to 20% and 40% respectively.