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Sir Keir Starmer has repeatedly promised not to increase major taxes such as income tax, national insurance and value-added tax, but has failed to completely rule out capital gains tax (CGT) increases.

There have been a number of subtle signals which suggest the Labour party will increase Capital Gains Tax if they should come to power in July.

Number 1

The Labour chief adviser's online 'like' about raising capital gains sparked new fears that the party plans to raise CGT for property owners and businesses.

Morgan McSweeney, the Labour leader's chief of staff, 'liked' a social media post favouring a £15 billion tax hike.

The post, put up on Saturday, said "Labour would be wise politically to raise capital gains tax, it is an easy sell to the three in 100 that currently pay it.

"We have to ask ourselves what sort of society we want to live in.

"A small rise would bring in over £15bn - lifting the two child cap would cost £1.6bn. Sounds a good idea to me!"

He later removed the like and is understood to have told colleagues that it was accidental.

But the move leads to further speculation that Starmer will raise billions by putting up the rate of capital gains.

The Tories have claimed that Labour is planning 17 "secret" tax raids, including making the sale of a primary residence liable for capital gains tax.

But Starmer ruled this out stating it was a "desperate" tactic from the Tories to suggest he would impose CGT on the sale of people's homes.

The Labour leader said he could "absolutely" guarantee that would not happen.

Number Two

The Conservatives have accused the Labour Party of planning to raise capital gains tax on businesses, which Labour has not rejected.

During an interview with the BBC last week, Starmer did not rule out wider increases in capital gains tax, but more broadly rejected the past Labour argument to always "put up tax."

Labour has insisted it would not raise taxes beyond the raids announced on private schools and non-doms.

But it has not concretely ruled out any increases except income tax rates, capital gains on family homes, national insurance and VAT.


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CGT is paid on profit made from the sale of assets ranging from shares and building assets to second homes.

Number Three

The highest rate of CGT is 28 per cent, which is far lower than the top rate of income tax which sits at 45 per cent, something some Labour politicians have deemed unfair.

Labour's deputy leader, Angela Rayner previously suggested equalising the two rates meaning that capital gains would double.

Rachel Reeves, the shadow chancellor, initially opposed a rise arguing that it would pound small business owners, but is said to be under internal pressure to change her mind.

Labour is showing an unwillingness to completely rule out capital gains tax while promising not to increase other mainstream taxes fueling unrest for business and property owners.

Labour has been approached for comment

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