A Labour government is far more likely than a Conservative one to introduce a wealth tax. Voices in support of a wealth tax have been louder over the past decade. There is a significant body of research in support of it, and that counters the main argument against it (likelihood of migration by those who would be affected). Something needs to be done about the UK’s level of poverty and its fractured society. More tax needs to be raised. A wealth tax, while not in itself enough to eradicate these problems, would play an important part of doing to. The chances of Labour introducing one therefore seem reasonably high, and the most likely structure would be an annual tax, at a fixed rate above a certain net assets figure.
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A Labour government is far more likely than a Conservative one to introduce a wealth tax. Voices in support of a wealth tax have been louder over the past decade. There is a significant body of research in support of it, and that counters the main argument against it (likelihood of migration by those who would be affected). Something needs to be done about the UK’s level of poverty and its fractured society. More tax needs to be raised. A wealth tax, while not in itself enough to eradicate these problems, would play an important part of doing to. The chances of Labour introducing one therefore seem reasonably high, and the most likely structure would be an annual tax, at a fixed rate above a certain net assets figure.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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