UK wealth tax: Chancellor urged to increase capital gains, property and inheritance taxes
- On January 7, 2021
- By GrowthInvest Marketing
CHANCELLOR Rishi Sunak has been urged to resist rising pressure to increase wealth taxes in a bid to restore the country’s post-pandemic finances.
The influential Resolution Foundation is pushing for the Chancellor to restrict relief on capital gains tax and inheritance tax and introduce a council tax supplement of one percent on properties worth more than £2million. In a report published today the foundation argues that the wealthiest one percent of households are £800billion richer than originally thought, taking their total share of wealth from 18 percent to 23 percent.
The Foundation argues that the cost of the pandemic and an ageing population will cause health and welfare spending to rise by £38billion a year by 2030 so “wealth taxation will need to play a bigger role in the UK economy” in this decade.
GET IN TOUCH!
MAIL US
enquiries@growthinvest.comCALL US
020 7071 3945FOLLOW US ON
Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.
GrowthInvest is a trading name of EIS Platforms Limited. EIS Platforms Limited (FRN: 694945) is an appointed representative of Sapphire Capital Partners LLP (FRN:565716) which is authorised and regulated by the Financial Conduct Authority in the UK.
All rights reserved 2024 @ growthinvest