UK business secretary dismisses wealth tax as ‘daft’

The creation of a wealth tax to close the growing hole in Britain’s public finances has been denounced as “daft ” by UK business secretary Jonathan Reynolds, the first senior minister to publicly rule out the idea.

There have been jitters in business and City circles over recent calls by senior Labour figures for a new tax to target the assets of the Богат, само че в петък Рейнолдс сподели, че е отчаян от такива „ популистки “ хрумвания.

„ Няма тип магия [данък]. Няма да вършим нещо, което не би ли е във ВАН? Ние таксуваме това? taxes outside of a Budget.

Downing Street has also previously declined to exclude the possibility, arguing that it risked being invited to comment on every possible tax ahead of Reeves’ autumn Budget.

Former Labour leader Lord Neil Kinnock said earlier this month that a wealth tax could be created, suggesting a 2 per cent tax on assets above £10mn, claiming it would raise more than £10bn a Година.

Но Рейнолдс ясно почувства нуждата да увери богатите на Англия, че държавното управление не е на път да сътвори нов налог, концепция, че чиновниците на касата са доказани на частно, като нестарят. tax, capital gains tax, ” he said.

Economists have argued it would take several years to create the database needed for a new tax on assets, while Reeves and Reynolds are also wary of any move that could drive wealth creators abroad.

However, some senior Labour figures believe Reeves may be refusing to rule out a “wealth tax ” because she could decide to make tax changes that could be described in the same terms.

“You could do something on the edge of a wealth tax on property, ” said one Labour grandee, arguing that a revaluation of high-end homes could create the basis for higher council taxes — a supposed “mansion tax ”.

Reeves could also look to raise existing levies that target the better off, including capital gains or dividend taxes, as she looks to fill a fiscal hole that economists say could exceed £ 20 милиарда