After promising businesses that final proposals to Capital Gains Tax (CGT) will be announced before the end of the year, the Government has now done a U-turn announcing that it will not be published until the New Year.

On 27 November, Chancellor Alistair Darling told the Confederation of Business Industry (CBI) that the final proposals would be revealed within three weeks to allow businesses time to adjust before next April.

Economic secretary of the Secretary Kitty Ussher told Parliament recently that plans would be announced before Christmas and business groups had been told to expect the proposals within days.