Businesses supported by BGF, the UK's leading private equity investor, have expressed concerns over potential cuts to investment if Chancellor Rachel Reeves raises capital gains tax (CGT) in the upcoming Budget. A survey of 58 companies revealed that 88% of executives view an increase in CGT as detrimental to entrepreneurship, with 74% anticipating a negative impact on their operations. The poll also saw 78% say a higher rate of CGT would influence their thinking on investment. Andy Gregory, BGF's chief executive, said: "What we're hearing of is an uncertain environment that business leaders are having to navigate," adding that this comes as they face "some very specific concerns that may, or may not, be contained in the Budget and could significantly impact growth prospects" for small and medium-sized enterprises. The Treasury has not confirmed any changes to CGT, but it remains a significant source of potential revenue, especially as the Government has ruled out increases to income tax, National Insurance or VAT. The Office for Budget Responsibility estimates that the Treasury will raise £15.2bn in CGT this tax year, with this accounting for 1.3% of all tax receipts.