Darling postpones CGT decision

The Chancellor, Alistair Darling, has postponed a final decision on his plans for Capital Gains Tax (CGT) until the New Year. Darling had previously promised to clarify his position on CGT before Christmas, but said he would not be able to conclude the discussions with business leaders until the start of next year. The Treasury had proposed a single flat rate of 18% on all assets rather than the tapered previous approach, but admitted concessions may be necessary following uproar from the business community.