An expert has predicted that the sale of investment products will be boosted by the coalition government, despite proposed increases in capital gains tax .
Research conducted by Virgin Money found that 30 per cent of independent financial advisers thought their clients would increase their investments once they found out that David Cameron was the prime minister.
Virgin Money spokesman Grant Bather expressed his confidence in the prospects of investments, although he said that caution was still needed because of the continuing crisis in the Eurozone.
He added: "Advisers are saying that they believe sales will continue to rise so it is clear that a lot hinges on the Budget on June 22nd to set the tone for the investment market in the UK for the rest of the year.
"The government has won early backing and it was striking how the research changed as prime minister Cameron moved into office."
The government has signalled that capital gains taxes could be raised up to 40 or 50 per cent, compare to the 18 per cent that they currently stand at.
Investment confidence in government
Investment confidence in government
Thu, 27 May 2010
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