Phasing Out Of Retirement Relief From Capital Gains Tax

EDM number 1394 in 1997-98, proposed by Kerry Pollard on 08/06/1998.

That this House acknowledges the significant contribution made to the economy by the small business sector; recognises the need actively to promote this contribution by means of appropriate policies for small and medium-sized enterprises; is aware that many small business owners rely on the disposal of their business on retirement to fund an annuity; is concerned that the phasing out of existing retirement relief from capital gains tax could have a detrimental effect on small business owners; and asks the Chancellor of the Exchequer to bring forward proposals for the new regime, and its phasing in, which would be fair to those who would otherwise be faced with a financial loss on retirement.

This motion has been signed by a total of 149 MPs.