Angela Rayner left BBC Breakfast presenter Jon Kay speechless after she refused to answer his question about the upcoming Autumn Budget. The housing secretary declined to go into detail about the fiscal event, which is scheduled for next week.
Rayner declines to speculate on Budget
Jon Kay asked: "We've got the budget coming up very soon and I know there has been a debate in Cabinet among you and your colleagues about whether one option is to put up Capital Gains Tax (CGT). The type of tax people pay on shares and second homes. But we are hearing from the Treasury that is not going to happen. Is that a win for the rich?"
Angela replied: "I'm not going to speculate on what's in the budget and you won't have long to wait now." The response left the host speechless.
Chancellor's stance on Capital Gains Tax
It comes after Chancellor John Healey dismissed calls from some Labour MPs to increase Capital Gains Tax. Cabinet ministers Wes Streeting and Louise Haigh both previously voiced support for raising CGT before Andy Burnham became prime minister in July.
Ahead of next week's Budget, as first reported by the Times, Healey is minded not to increase CGT - which is imposed on the profit people make when they sell an asset that has increased in value, such as shares in a company or properties which are not primary residences. The move followed warnings that it could end up costing the government money if wealthy people leave the country or defer selling off assets.
