UK Politics

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Dan Neidle: ‘A UK wealth tax wouldn’t work’ (www.ft.com)

submitted 2 months ago by NotACube to c/uk_politics

4 comments fedilink hide all child comments

Unpaywalled archive link: https://archive.is/ms1Dl

He argued that council tax, business rates and stamp duty should all be abolished and replaced with a land tax “that would actually act as an engine for growth” and supported former Conservative chancellor Jeremy Hunt’s desire to end national insurance, describing it as a “dumb form of income tax” as it did not apply to income from savings, investments, property or retired people.

“Any of these things could be looked at by a reforming government and I believe they would all drive growth, they might even raise a bit of revenue, but the main game should be growth. One per cent on UK GDP is worth way more than mucking around with pension tax here or there.”

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[–] flamingos 14 points 2 months ago

Guys, we can't introduce a wealth tax, all the right people will just leave. I mean look at Switzerland, they've had a wealth tax for centuries and if there's anything they're lacking it's rich people.