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Capital Gains Tax (Rates)

Part of the debate – in the House of Commons at 6:22 pm on 23rd June 2010.

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Photo of Owen Smith Owen Smith Labour, Pontypridd 6:22 pm, 23rd June 2010

I ask the hon. Lady to reflect on the views of others in business. Ernst and Young has already said that it feels the Government have not fully understood the long-term financial consequences of the cuts, by which it means the reduction in demand in the economy. May I also point to the view of an inward investor in my constituency, GE Aircraft Engine Services Ltd, which feels that the reductions in corporation tax will not offset the damage done to its ability to invest by the reductions in capital allowances that manufacturing relies on?

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