Marcus Hutchins :verified: on Nostr: "Rachel Reeves on Wednesday said capital gains tax for most assets would increase to ...
"Rachel Reeves on Wednesday said capital gains tax for most assets would increase to 18% from 10% at the lower rate and increase to 24% from 20% for higher earners"
"This means the UK will still have the lowest capital-gains tax rate of any European G7 economy."
"EUROPEAN G7" is pretty cleaver wordplay. It intentionally excludes the US, which is currently a huge threat to the UK economy. The UK already struggles to compete with US on salaries, especially in core industries like finance and tech. a 24% capital gains tax for "higher rate taxpayers" is 4% higher than the US rate, and since "higher rate taxpayer" is anyone making over £50k/year, it's going to be interesting to see how that one plays out 😬
"This means the UK will still have the lowest capital-gains tax rate of any European G7 economy."
"EUROPEAN G7" is pretty cleaver wordplay. It intentionally excludes the US, which is currently a huge threat to the UK economy. The UK already struggles to compete with US on salaries, especially in core industries like finance and tech. a 24% capital gains tax for "higher rate taxpayers" is 4% higher than the US rate, and since "higher rate taxpayer" is anyone making over £50k/year, it's going to be interesting to see how that one plays out 😬