A wealth tax is needed to fund our neglected public services
The IndependentThe best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The report includes four different options for a wealth tax, including a one-off tax, an annual tax and a hybrid tax targeting increases in wealth. My office has found that the median revenue of the four wealth tax options is £218.4bn over the course of a five-year parliament. Bringing dividends into line with income tax would raise £37bn in five years and doing the same with capital gains tax would bring in a further £90bn. In addition, closing tax avoidance loopholes and tackling tax evasion would raise a total of £145.5bn in five years.
History of this topic
Rachel Reeves' '£25bn tax bomb': IFS warns Chancellor needs massive raid in Budget to balance books after public sector pay splurge - with NICs, pension pots and inheritance under threat
Daily Mail
Wealth Taxes Are the Obvious Revenue Target for Reeves
Bloomberg
Households paid an average of £821 more in tax in the first nine months of year
Daily Mail
Jeremy Hunt set to launch capital gains tax raid
The Telegraph
Taxing wealth of UK’s richest ‘could cover rising health and social care costs twice over’
The IndependentDiscover Related
