No rise in capital gains tax
“We will not increase Capital Gains Tax.”
- Promised
Where it stands
The Conservatives are not in government, so the card stays at Promised. In October 2024 the Labour government raised the main rates of capital gains tax from 10% and 20% to 18% and 24% (Autumn Budget 2024, para 2.48). No later Conservative pledge on capital gains tax rates was found on 9 October 2026.
What has happened
- Jun 2024Conservative manifesto pledges not to increase capital gains tax, Promised
About the cost
No cost against the policy of the time, because the pledge only rules out a rise. For scale, HMRC estimates that raising the higher rate of capital gains tax by 5 or 10 percentage points would lose money by 2028-29 (£870m and £3,565m), because people sell fewer assets, and warns that its figures cannot be scaled up (June 2025 estimates).
More detail
Sources (2)
How cards are checked
Status follows the promise standard, the same for every party. A status changes only on evidence. Anyone named on a card can reply, and replies are published next to it. AI Journalist is our automated reviewer: it re-reads every card against its live sources (the quote word for word, dates, evidence, status, cost, neutral wording, legal risk). Human editors review next.
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