Madam, - I read with interest that Pat Rabbitte has hinted that Labour would increase capital gains tax if elected to government (The Irish Times, October 17th). This is in spite of the fact that lowering CGT has been one of the main factors behind the State's recent economic success.
In my opinion any attempt to reverse this policy would be disastrous. It would lead to the departure of many large multinational firms from Ireland with consequent redundancy for thousands of workers. Mr Rabbitte's remarks indicate that Labour is incapable of managing this country's finances. - Yours, etc,
Dr RUAIRI HANLEY, Mount Merrion, Co Dublin.