Labour Tending Towards A Wealth Tax.....

[ToraToraTora]

https://www.express.co.uk/finance/personalfinance/2034193/rachel-reeves-pushed-unleash-tax-UK-never-faced-before-cost-billions

Ok so 2% on those with assets over £10m sounds like it will only effect a few and raise a lot. Nope, they will all burger off costing thousands of jobs and other income on the things those people but. Why are lefties so blind?

[davebro3]

Not "Tool & The Gang" but "The Wrecking Crew" if they take this on board. I'm not rich but I would be seriously considering emigration if I was a bit younger.

[Old_Geezer]

Are they taking their assets with them ?

[newmodarmy]

2 % if 10million is £200000 . I'd that's per year it is a lot to find if your wealth is on property or land. If its only 2% in the excess it's not too bad and I'm sure accountants would find ways round it.

[newmodarmy]

I and o are in wrong places.

[ToraToraTora]

19:55 of course they are.

20:02 which is why they wont pay it

Rememebr the 97% tax in the early 70s? Raised nothing.

[douglas9401]

Is the current rate 95%?

[Ellipsis]

Very interesting podcast on this about 3 days ago ...

https://www.bbc.co.uk/sounds/play/m00297dt

Conclusion: could work as a one-off smash and grab, not going to work on an ongoing basis and even a smash and grab could make people leave worried that it won't be a one-off

[jourdain2]

Well, it certainly wouldn't affect me -but I would think that most people in that wealth bracket would promptly move their cash.

There was a wealth tax operation affecting families in France -which was hard to avoid because it was family based - since most wealth was property based it was hard to avoid.  10  yrs and a different country later I cannot see that it would work here - we simply don't have the same social structure.  France's is still based upon the Napoleonic code.  This doesn't work here.