Jump to contentAllNewsSportCultureLifestyleFormer Conservative Treasury minister Lord O'Neill of Gatley has warned Prime Minister Andy Burnham that raising capital gains tax in the upcoming Budget would be a "stupid" decision. Lord O'Neill argued that higher tax rates would deter business owners from selling assets or encourage them to move money abroad, ultimately reducing Treasury revenues. The crossbench peer praised Burnham for creating a positive atmosphere since taking office, but warned that hard economic choices lie ahead when Parliament returns. Lord O'Neill urged the government to reconsider its promise of "growth in every postcode" and focus economic efforts on London and major regional hubs instead. He revealed that he declined a role as the Prime Minister's economic adviser because he was unwilling to take the Labour whip or place his business interests into a blind trust. In fullBurnham warned against ‘stupid’ capital gains tax decisionMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Burnham told raising capital gains tax could actually cost UK money
Jump to contentAllNewsSportCultureLifestyleFormer Conservative Treasury minister Lord O'Neill of Gatley has warned Prime Minister Andy Burnham that raising capital gains tax in the upcoming Budget would be a "stupid" decision. Lord O'Neill argued that higher tax rates would deter business owners from selling assets or encourage them to move money abroad, ultimately reducing Treasury revenues. The crossbench peer praised Burnham for creating a positive atmosphere since taking office, but warned that hard economic choices lie ahead when Parliament returns. Lord O'Neill urged the government to reconsider its promise of "growth in every postcode" and focus economic efforts on London and major regional hubs instead. He revealed that he declined a role as the Prime Minister's economic adviser because he was unwilling to take the Labour whip or place his business interests into a blind trust. In fullBurnham warned against ‘stupid’ capital gains tax decisionMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
