Proposals from the Office of Tax Simplification (OTS) to align Capital Gains Tax (CGT) rates with income tax represent “a fundamental error and misunderstanding of the principles of taxation”, says the IEA’s Senior Academic Fellow Professor Philip Booth.

Quoted by The Times, Philip argued that the Treasury should instead focus on tackling the disguising of income as capital gains and that “raising rates would be a serious mistake and create more economic damage.”

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