Rross, Very worrying if this happens.
I think your wrong Bcram, I think its very much on the agenda, maybe not at the % rates above but it's one of the easier ways for govt.
Hundreds of billions will not be recouped with 2 or 3p on income tax.
Remember there wasn't gonna be a Brexit, Jeremy Corbyn couldn't win the labour leadership election and salmond was going to jail, trump couldn't win, and the Tories would never bring in the poll tax.
Never say never.
Rross, Very worrying if this happens.
1.5% annually or 10% one off on anything over half a million net worth seems most popular, main residence and private pension funds included.
So annual say 300k house, 100k savings investment, 250k pension fund.....no mortgage loans or credit card debt.......one off liability 15k or annual liability £2250
The higher you go obviously it gets a bit scary tax wise.
But say someone 1 million pound house 800k mortgage, 100k savings 30 k credit card 30k car loan, 250k pension fund......no liability
Ws looking at the tax raised by income tax £170bn and VAT £140bn.
Put all rates up by 10% it could raise £17+14=£31bn. The trouble is that it doesn't look reasonable to assume that the revenue levels for recent years are likely to be the same for the next few years. I really hope you are wrong about a tax on accumulated wealth. It completely undermines the whole basis of our economic model and will not help, even in the short term.
Perversely a lot of the more "progressive" countries have been abandoning them but there seems to be a real appetite for it.
Dennis Healey came very close to introducing one in the mid 70s.
I think it will happen and it will be very close to a level that a small majority of the population will will have nothing to pay.
Anyway that's my hunch.
I think the behavioural scientists are calling all the shots. Priti Patel says 14 days quarantine if you fly back from holiday.. Ne t step will be airlines screaming for testing and temperature readings and face masks. Et if Priti said exactly that the airlines would have been crying foul.
Hitchens had a good article again today. Still not hitting home yet because people think he is a Conservative writing in a Conservative supporting paper.