To ask the Chancellor of the Exchequer what assessment he has made of the effect on the buy to let market and housing market of the new flat 18 per cent. rate of capital gains tax; and whether an impact assessment has been produced for this proposed tax change. (176436)

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 single rate of 18 per cent. The impact on investors will depend on their personal circumstances.