Welcome to a particular ask anything with me, Chris Blackharst – Business Commentator in Independent.
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A money tax is returned. And this time, it is being pushed not from the political fringe, but from within the labor party.
Former party leader Lord Kinnok has called for a 2 percent tax on assets of more than £ 10 million, arguing that it can grow to £ 11 billion per year and help to sideline Britain’s finance. Their intervention is Debate on a “asset tax” On super-rich.
The five trade unions are now supporting the idea, and Rhel Reeves refused to rule anything further from his Haveli House speech, the labor direction on the tax policy is subject to the actual investigation.
I have reported from Square Mile for decades and have talked to those who keep the UK economy operational. And from where I sit, a money tax is not only financially risky – it is a political sign that the UK is no longer serious about prosperity, investment or development.
The rich do not live in a vacuum, unlike the popular myth. They work, do charity, and help to run economic confidence. Take them away, and it is not only rich who suffer – these are the treasures, small businesses, and very public services want to support labor. The disadvantage of the UK is another benefit. There are many countries that are lining to woo rich to woo rich.
So what’s really happening here? Is there a proper way to close the fiscal black hole of a money tax -tax Labor – or a dangerous misconception that can cure Britain’s recovery as it is going?
Include me in live Wednesday, July 16 at 6 pm, As I take your questions and comments in front of this new labor government on money, taxation and high-dot economic options.
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