Capital Gains Tax


PHOTO: Capital Gains Tax

Many people were disappointed about the government’s abandonment of the capital gains tax plan. But is there an alternative that could still open up the property market to those currently priced out?

I’m just going to put my cards on the table – I am a supporter of a capital gains tax (CGT). I’m an old-fashioned socialist whose predictable move to the political right as I aged still left me tickling the extreme left of Labour ideology in my early 40s. I can’t imagine I’m going to move much past ‘mid-Labour’ before I’m too senile to vote. And yes, before anyone asks, we do own property, and I’m happy to pay my fair share to help equalise the shitty situation many have found themselves in.