Speculators vs Investors. I look forward to rise in CGT for speculators.

It would seem likely that if they increase the CGT rate they will reintroduce taper relief and also have a lower rate for business assets, such as employee share options in small companies.
I don't think this will affect the volatility of the equity or forex markets, which is caused by the uncertainties in the euro-zone.
To the extent that there is a higher tax rate on short-term profits, it would make people less likely to want to sell shares when they go up quickly, and more keen to sell them when they go down quickly (to crystallise the losses to use against other profits). That would increase volatility.
But as the markets are dominated by institutional investors and foreigners, I can't think it will make much difference.

What about long term speculators and short term investors?

Am I the only one who remembers Brown's speech c. 1996 where he said he was going to encourage long term investment via taper relief with a maximum after 10 years.

Then when 10 years came, he scrapped the bloody scheme.!

Tosspot.  Good riddance to bad rubbish.

The flat rate of CGT is a disadvantage for long term investors like me. The speculators did make much money for Labour, good to see their gutting of our industrial base and backing of bankers and bit them in theri ass.