Wes Streeting proposes 'wealth tax that works' CGT overhaul

He wants to equalise capital gains tax with income tax in moves that could raise £12bn a year, the report said. Speaking on the BBC Political Thinking podcast, the MP who resigned as health secretary last week, said CGT should mirror the three income tax bands of 20%, 40% and 45%. The report explained that under his proposals, a person's CGT band" would be calculated by adding up their income and profits from assets". The leadership hopeful also wants to close "loopholes that allow people to disguise income from work as capital gains", according to the BBC. Quilter tax and finan...