§ Mr. LoughtonTo ask the Chancellor of the Exchequer which of the proposed Budget changes in capital gains tax have been introduced as simplifications of the current system. [36790]
§ Dawn Primarolo[holding answer 30 March 1998]: The Budget changes in capital gains tax will lead to eventual simplification of the current system by:
progressively eliminating indexation and substituting the taper which is easier to understand;phasing out retirement relief;merging CGT reinvestment relief and the Enterprise Investment Scheme;introducing a single rate for trusts and the estates of deceased persons.