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.

[–] kbal@fedia.io 10 points 2 months ago

wealthy people had reacted by leaving the country or rearranging their business affairs to minimise any tax liability.

There's no point making laws, the crooks are just too clever for us.

[–] DemocratPostingSucks@lemm.ee 7 points 2 months ago

Land tax AND wealth tax ftw

[–] RobotToaster@mander.xyz 3 points 2 months ago

If only a certain party hadn't abolished capital controls...