Taxation
During Treasury Questions, Philip Dunne tackles the Chancellor over the winners and losers from proposed changes to capital taxation.
Mr. Philip Dunne (Ludlow) (Con): As there are potentially more than 10 million losers from last week's proposed changes to capital taxation-6 million in employee share schemes and 4.5 million owners of small and medium-sized enterprises-has the Chancellor calculated how many gainers, such as second-home owners or owners of substantial investment portfolios, there will be?
Mr. Darling: The hon. Gentleman mentioned employee share option schemes, which I have always supported. As the capital gains tax has an annual allowance of £9,200, it is highly unlikely that many employees in such schemes would exhaust that and therefore have to pay capital gains tax. The tax is paid by a comparatively small number of people and the allowance does protect the people whom I am sure everybody in the House would like to support.
