Wake Up to Money - 19/05/2010

News and views from the business world with Jeremy Naylor and Andy Verity. The new government is planning to more than double the amount of Capital Gains Tax paid on non-business assets. This could be disastrous for buy-to-let investors and discourage further investment in residential property. We talk to Chris Norris, policy director for the National Landlords' Association, and Jonathan Haward from the Countyhome Search company, who find properties to buy and rent. The CBI is calling for an immediate two year pay freeze in public sector pay. The Conservatives have looked abroad for lessons on how to cut the UK's deficit, and to Canada which turned a 9% deficit into 0% in just three years. We ask Scott Reid, senior advisor in the Canadian Government at the time, how they managed to do it. European officials are trying to strengthen their control of the markets by tightening rules for hedge funds. Americans fear it will block US funds from Europe and cause the lucrative industry to flee London. Colin McLean, managing director of SVM Asset Management, explains what effect the regulation will have. The number of homeowners overpaying on their mortgages has doubled in the last year, according to new research. We ask Stephen Noakes, commercial director of mortgages at Lloyds Banking Group, what has caused this sharp rise in mortgage overpayment.