Government bungled capital gains tax reform - Cable

9.30.00am GMT Thu 13th Dec 2007

Commenting on Alistair Darling's announcement that he is to review the proposed abolition of Capital Gains Tax taper relief, Acting Liberal Democrat Leader and Shadow Chancellor, Vince Cable MP said: "The Chancellor promised the CBI last month that he would bring further proposals to the reform of Capital Gains Tax, yet today we discover we will not hear any announcement until next year.

"It is entirely unacceptable that hundreds of thousands of businesses should be forced to live in this continued environment of uncertainty purely because the Government bungled its original proposals.

"By failing to properly consult business in the first instance over these reforms, the Chancellor showed total ineptitude. Alistair Darling's continued dithering is just making a bad situation worse."