By Chris Dorrell Capital gains tax (CGT) should be subject to “serious reform” in the budget if the Chancellor wants to raise revenue and boost growth, a leading think tank has said. Rachel Reeves is reportedly considering a range of tax hikes in the budget, including to CGT, as she seeks to put the public finances on surer footing. The Institute for Fiscal Studies (IFS) said the current design of CGT “reduces UK productivity and growth” by discouraging investment and distorting the flow of capital in the economy. CGT is a levy raised on the increase in value of an asset between the points of …