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Capital Gains Tax (Rates)

Part of the debate – in the House of Commons at 1:14 pm on 23rd June 2010.

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Photo of Vincent Cable Vincent Cable The Secretary of State for Business, Innovation and Skills 1:14 pm, 23rd June 2010

The hon. Lady knows the reason; it has been explained several times. A lot of questions had to be asked about the affordability, value for money and risk of that project. What was a very highly geared project promised extraordinary rates of return to the private promoter. We looked carefully at all the evidence, and the project clearly had positive aspects, but we decided that in the circumstances of a Government with highly constrained public finances, we could not support it.

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