New Businesses: Capital Gains Tax - Question

Part of the debate – in the House of Lords at 12:08 pm on 20 January 2021.

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Photo of Baroness Penn Baroness Penn Baroness in Waiting (HM Household) (Whip) 12:08, 20 January 2021

My Lords, the Government are absolutely committed to levelling up across the UK, including by incentivising investment in areas outside London and the south-east. When it comes to capital gains tax and wider tax measures, the report by the Wealth Tax Commission actually found that, on a narrow definition, UK taxes on wealth are about average for G7 countries, and on a slightly wider definition, our taxes on wealth are among the highest of the G7 countries.