Hazel Blears Blears had been claiming MPs' second home expenses relating to the flat. She had made a £45,000 profit on its sale without paying capital gains tax. On 12 May she volunteered to pay the £13,332 capital gains tax she had avoided on the sale of her second home. It was subsequently claimed that Gordon Brown had ordered her to repay the sum. In Salford she was met by a number of angry protesters and stayed in a local hotel rather than at home. Following an investigation by Sir Thomas Legg, Blears was told to repay £225 in expenses in relation
Capital gains tax in the United States a preferential rate intended for long-term gains. Warren Buffett has used the term "coddling the super rich". One counterargument is that the preferential rate is warranted because a grant of carried interest is often deferred and contingent, making it less reliable than a regular salary. The 2017 tax reform established a three-year holding period for these fund managers to qualify for the long-term capital-gains preference. The capital gains tax raises money for government but penalizes investment (by reducing the final rate of return). Proposals to change the tax rate from the current rate are accompanied by predictions on how it