# Equalise capital gains tax with income tax

> “Plaid Cymru would equalise capital gains tax with income tax, raising between £12bn - £15bn.”
>
> — Plaid Cymru; 2024 manifesto, page 8, 13 June 2024

- **Status:** Promised
- **Status ladder:** Promised → In plan → Legislated → Funded → Delivering → Delivered
- **Policy area:** [Taxes](https://ledgergov.uk/promises/area/taxes)
- **Speaker:** [Plaid Cymru](https://ledgergov.uk/actor/plaid-cymru)
- **Made on:** 13 June 2024
- **Where:** 2024 manifesto, page 8
- **Cost a year:** Raises £12bn to £15bn a year (central £13.5bn)
- **Who it affects:** People across the UK who make taxable capital gains
- **When:** Not stated
- **Paid for by:** Not a spending pledge
- **Quote source:** https://assets.nationbuilder.com/plaid2016/pages/13170/attachments/original/1721133624/Plaid_Cymru_Maniffesto_2024_ENGLISH.pdf?1721133624 (checked word for word on 9 October 2026; Quoted for reporting; rights stay with the publisher)
- **Last updated:** 9 October 2026
- **Card:** https://ledgergov.uk/promise/uk-plaid-cgt-equalise-2024

## 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.

## Timeline

- 13 June 2024, Promised: Plaid Cymru manifesto pledges to equalise capital gains tax with income tax

## 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.

Costing sources:
- [Plaid Cymru: 2024 manifesto (PDF), page 8](https://assets.nationbuilder.com/plaid2016/pages/13170/attachments/original/1721133624/Plaid_Cymru_Maniffesto_2024_ENGLISH.pdf?1721133624)
- [Office of Tax Simplification: Capital Gains Tax review, first report (Nov 2020), page 39](https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/935073/Capital_Gains_Tax_stage_1_report_-_Nov_2020_-_web_copy.pdf#page=39)
- [CenTax: Taxes at the top (Sep 2026), page 19](https://centax.org.uk/wp-content/uploads/2026/09/AdvaniHughsonSummers2026_Taxes-at-the-top.pdf#page=19)
- [HMRC: Direct effects of illustrative tax changes, tables (June 2025, ODS)](https://assets.publishing.service.gov.uk/media/68552862b46781eacfd71d71/June_2025_TRR_ODS__1_.ods)

## Sources

- [Plaid Cymru: For fairness, for ambition, for Wales, 2024 manifesto (PDF), page 8](https://assets.nationbuilder.com/plaid2016/pages/13170/attachments/original/1721133624/Plaid_Cymru_Maniffesto_2024_ENGLISH.pdf?1721133624)

## Checks

- Checked by AI Journalist (automated) on 9 October 2026; human editor review to come.

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