Nigel FarajThere is a plan to introduce a ‘Robin Hood Tax’ to attract rich in UK economy £ 34bn one year, a major tax specialist has warned.
And needle Associates of Tax Policy have hit the proposal of Britannia Card Scheme, which will allow the rich people to pay a single-off fee of £ 250,000 and change the former non-dome scheme scattered by Tory Chancellor Jeremy Hunt and current Labor Chancellor Rahel Reves.
Improvement UK It assumes that the scheme will produce around £ 2.5bn in a year, which is planned to hand over the lowest income people as a dividend of £ 1,000.
But in a scary assessment, Mr. Needle warned: “We believe there are three very serious problems with the policy.
“First, it would discourage highly skilled professionals from going here – they could not afford £ 250,000 and they would face the approach at any time in the UK – and worse than other comparable countries. The proposal would make the UK the UK ineffective.
“Second, all recent changes in non-dome rule means that any government will struggle to convince very rich people that the ‘Britannia Card’ will actually provide a lifetime discount, so the take-up will be very limited.
“Third, and most seriously, the card will provide very large and expensive tax windfall to very small rich people who are already here. The office for the budget responsibility shows the office that it will be £ 34BN of the lost government revenue in five years. It will have to either increase or cost tax.”
However, a disregard Mr. Faraj and former president of the Reform Zia Yusuf stressed that the plan was already interested and “will” attract new money “to Britain who has left the country or does not want to come due to high taxes.
Mr. Faraj complained: “In the last few years, a political story that has become strong and strong is the rich.”
He claimed that Tory and Labor Governments “do not understand human behavior. It did not understand the sheer dynamics that modern day entrepreneurs and rich people have the final year, for which we have full figures that 10,800 rich people left the country, some of them are non -don, some of them are also British.”
Mr. Yusuf warned that the current tax government is watching investors running away from Britain.
He said: “We should be honest about one of one of the major components how this happens. A major component is that we need the richest job creators, wealth creators and entrepreneurs who are here in Britain. And right now, the opposite is happening.”
He pointed to a report by Bloomberg, suggesting that 4,000 company directors left the UK as labor has come to power.
Mr. Yusuf also stated that non-dome had previously contributed at least one and £ 8.9bn to direct taxes from other taxes every year.
He said: “This card will be available for foreign internationally rich people who are going to come here and take jobs, as Nigel says, they will pay a one -fourth of landing fee of one lakh pounds.
“Therefore the UK will become incredibly attractive to the international level rich, but they should contribute immediately to the prosperity of the country and should contribute to the pockets and banks balance for the least 10 percent of the work of the entire time.”
