“Plaid Cymru would equalise capital gains tax with income tax, raising between £12bn - £15bn.”

Where it stands

Plaid Cymru is not in government, so the card stays at Promised. Capital gains tax is set for the whole UK at Westminster.

What has happened

1. Jun 2024Plaid Cymru manifesto pledges to equalise capital gains tax with income tax, Promised

About the cost

Negative because the pledge raises money. Year not stated by the party. Low and high are the party's own range, £12bn to £15bn (manifesto page 8); central is the midpoint. Independent estimates depend on the design. The Office of Tax Simplification (2020) put a static figure for aligning the rates at about £14bn a year, and said "nothing like this amount would be raised in practice". CenTax (September 2026) estimates £19.7bn more in 2030, but only for a package that also adds an investment allowance, ends the tax-free uplift at death and taxes gains when people leave the UK. HMRC's official estimates stop at a 10-point rise, show that rise on the higher rate losing £3,565m in 2028-29, and cannot be scaled up. No official costing of full alignment exists.

• Plaid Cymru: 2024 manifesto (PDF), page 8
• Office of Tax Simplification: Capital Gains Tax review, first report (Nov 2020), page 39
• CenTax: Taxes at the top (Sep 2026), page 19
• HMRC: Direct effects of illustrative tax changes, tables (June 2025, ODS)

More detail

Related promises

• Abolish inheritance tax on the family homeConservative PartyPromised
• Apply a windfall tax to bank profitsGreen Party of England and WalesPromised
• Raise the tax-free personal allowance to £15,000Liberal DemocratsPromised