UK's Brown says will not raise capital gains tax

LONDON, April 8 Thu Apr 8, 2010 3:31pm EDT

LONDON, April 8 (Reuters) - Britain's Labour Party will not raise capital gains tax, Prime Minister Gordon Brown said on Thursday during campaigning for a May 6 election.

"No, we will not raise capital gains tax .. It is 18 percent," Brown said in a speech in London.

He said Labour would also keep reductions in corporation tax, which had fallen to 28 percent under the Labour government.

Labour, which lags in the opinion polls, is locked in a row with the opposition Conservatives over a rise in payroll tax.

"I don't want to raise tax in any sense ... unless we have to, but we've got to get the deficit down," Brown said. (Reporting by Adrian Croft)

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