Proposed 5% emergency wealth tax
Posted: December 9th, 2020, 12:52 pm
An article in The Times today says that The Wealth Tax Commission has been considering a one-off wealth tax on wealth above £500k by way of a 5% levy, paid at 1% p.a., on housing, pension, business, equity and savings wealth, "to recover almost all the £280 bn. that the govt. has spent fighting the pandemic" but concluded that an annual charge was a non-starter. This is the link but it will be behind a paywall and you may have to Google to get. https://www.thetimes.co.uk/article/emer ... -jdtbr3pgn.
This is probably not the correct board to discuss the political aspects of this (perhaps a mod could duplicate elsewhere) but there may be some practical angles which could be discussed if it looks like coming to pass, which I'd like to think it won't. We are going to get clobbered one way or another, however.
This is probably not the correct board to discuss the political aspects of this (perhaps a mod could duplicate elsewhere) but there may be some practical angles which could be discussed if it looks like coming to pass, which I'd like to think it won't. We are going to get clobbered one way or another, however.