A wise tax plan silently vanished last week. The chancellor was due to narrow a notorious tax loophole for the wealthy by raising capital gains tax. Now, in a quiet reverse ferret, he won’t. You might think any chancellor in these harsh times would collect what they could, and that this policy would be voter friendly, raising large sums from a few of the richest. But it would no doubt displease Tory donors and the influencers who will choose their next leader.
Besieged by urgent spending pleas,
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