Schedule 2
Finance Bill
10:00 am
John Penrose (Weston-Super-Mare, Conservative)
I promise not to ask about inflation. I should like to illustrate my hon. Friend’s point. Does he agree that if the Government’s agenda was purely to simplify capital gains tax by reducing indexation relief, and if they had thought through all the implications, the logical way to do it would be to reduce the headline of the CGT, because, if we are to get rid of indexation relief, the two would equal each other out? They did not do that, which means that their motivation was not purely simplification.