SoBo65 wrote:Listening to a couple of recent podcasts I tend to think that a blanket wealth tax is unlikely as too complex to introduce. Instead we will see an increase and extension in the existing "Wealth Taxes' of IHT, CGT and Stamp duty on houses, increased council taxes on second homes and perhaps CGT extended to profit on the sale of houses (main residence) above a certain figure. We already have additional car road tax on cars retailing at £40k and above. All of this type of thing (plus some new ones) would be far simpler to introduce.
100%. I've been having the same thoughts. Under Labour IHT bound to go up. Closing the "loopholes"/ exemptions.
CGT go up as well. And second home owners will be hit hard. When they find they've not got enough that way, will go after upper middle class via council tax and car tax.
Reading the Guardian comments, the left generally want wealth taxes. But Rachel Reeves will know this is impractical and be counter productive. So will extend existing taxes by increasing the tax take. By keeping the headline income tax the same can say taxes haven't gone up.