To ask the Chancellor of the Exchequer what assessment he has made of the effect of proposed changes in capital gains tax on private equity firms. (172636)

The 2007 pre-Budget report announced a reform of the capital gains tax regime for individuals. From 6 April 2008, all disposals that attract capital gains tax will do so at a rate of 18 per cent. Along with changes to address loopholes and anomalies in the residence and domicile rules, these changes will increase the fairness of the tax system including for individuals in the private equity industry.