UK’s Reeves Declines to Rule Out Increase in Capital Gains Tax

UK Chancellor of the Exchequer Rachel Reeves declined to rule out increasing the capital gains tax after warning that difficult decisions will be taken to fill a £22 billion ($28 billion) budget black hole.

Reeves, in an interview with Bloomberg Television Monday, said that the UK will strike the “right balance” on tax at the budget due Oct. 30, after speculation that she could target the capital gains levy.

“Of course you need to bring in the revenue to fund vital public services, but we’ve also got to grow the economy and I won’t do anything that makes it harder ...