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Rachel Reeves, the chancellor of the exchequer, said she was wrong to tell British voters before the election that Labour would not announce new tax increases, even as she assured the public that there would be no repeat of her first budget in the coming years. Asked to explain her comments in June in an interview on Sunday, Ms Reeves said "there is nothing more than what we have already proposed.
British Chancellor of the Exchequer Reeves: This budget raises taxes by 40 billion pounds.
In his budget speech, Chancellor of the Exchequer Reeves said capital gains tax would rise from the lower rate of 10% to 18% on most assets and from 20% to 24% on high earners, and said changes to the system would raise 2.50 billion pounds. The increase in capital gains tax brings the tax rate on most assets in line with the rate payable on properties. Capital gains tax is paid on profits from the sale of assets of more than 3,000 pounds ($3,896.70), and the rate depends on the amount of income ...
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