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Working Life:Badly hit by move.


THE Government has come under fresh attack from the country's biggest business organisation over controversial changes to capital gains tax.

The head of the CBI warned that firms were finding it increasingly difficult to make decisions about future investment because of uncertainty over the level of the business tax.

Richard Lambert said the row was causing "enormous damage" to the reputation of the Government. Chancellor Alistair Darling caused uproar in the business community last October when he announced in his Pre-Budget Report the removal of capital gains tax taper relief, which had been as low as 10%, for a new flat rate of 18%.

The change, due to come into effect in April, sparked outrage from business groups, who warned it would penalise entrepreneurs.
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Title Annotation:Features
Publication:Evening Chronicle (Newcastle, England)
Date:Jan 17, 2008
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