Hargreaves Lansdown urges Healey to keep capital gains tax unchanged
Hargreaves Lansdown’s investment strategy director warned Chancellor John Healey against raising capital gains tax in the upcoming Budget, saying it would deter UK investors.
Ahead of Chancellor John Healey’s first Budget, Hargreaves Lansdown’s Anna Macdonald warned that any increase to capital gains tax could discourage investment and harm economic recovery. She noted that Treasury projections show such a move would be counter-productive and urged the government not to penalise investors. The platform’s chief executive Matt Benchener has previously argued against higher taxes on investments.
Macdonald also suggested scrapping stamp duty on UK shares to make the market more attractive and prevent capital from flowing abroad. The firm acknowledges the Treasury’s tight fiscal position but doubts that raising CGT or other wealth taxes is the right solution. She cautioned investors against making hasty decisions before the Budget is announced.
Why it matters
Higher capital gains tax could reduce investment in the UK, slowing economic growth.
How this story developed
- Sep 29 Andy Burnham signals possible UK return to the EU after condemning Brexit
- Sep 30 The Prime Minister now says re‑joining the EU is among the options the government will consider.
- Sep 30 Burnham signaled that full EU membership is among the possible routes Labour could evaluate.
- Oct 3 A new poll shows half of British adults now support rejoining the EU.
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