4 days ago
UK Wealth Tax Given ‘Zero Chance' Amid Cash Crunch for Reeves
Labour proponents of raising more money from Britain's richest people have long circulated a report by the UK Wealth Tax Commission as proof it can be done. But one of the report's authors says he can't see it happening fast enough to help Chancellor of the Exchequer Rachel Reeves.
'There's zero chance they will introduce a wealth tax in the next budget,' Andy Summers, associate professor at the London School of Economics, told Bloomberg. 'Unless the Treasury has been secretly working on it for many months or years, then it just can't be done.'
