Should the government raise more money from capital gains tax?

Many think the chancellor has it in his sights. But what exactly is capital gains tax? How much more revenue could such a hike be expected to raise? And who would end up bearing the burden? Ben Chu looks at the numbers

The biggest recipients of capital gains are increasingly financiers, particularly partners in private equity firms, who receive the bulk of their remuneration in the form of capital gains rather than income (Getty)

The chancellor, Rishi Sunak, this week wrote to the government’s Office for Tax Simplification and asked the body to carry out a review of capital gains tax.

The Treasury has tried to downplay suggestions that this means it is set to rise.