QCA backs CGT campaign

THE QUOTED Companies Alliance, the body representing small and mid-cap listed firms in the UK, has thrown its backing behind City A.M.’s campaign against the government’s proposed hikes to capital gains tax (CGT).

Tim Ward, the QCA’s chief executive, said alterations to the proposals was the “number one priority” for his organisation, which has argued against the planned increase in its Budget submission to the Treasury.

“The experience of ill thought out changes, introduced without consultation, indicates that Treasury revenues and government policy could be optimised by ensuring that there is sufficient time for proper consultation and consideration,” Ward wrote.

The QCA backs the taper system supported by City A.M., whereby more long-term gains are taxed on a decreasing scale.