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Chancellor Rishi Sunak rejects wealth tax hike


Chancellor Rishi Sunak rejects wealth tax hike
By
Sonia Rach
19
© HM Treasury/CC BY-NC-ND 2.0
Chancellor Rishi Sunak has rejected the idea of a wealth tax hike to pay off the UK’s £280bn Covid debt.
Sunak was presented with plans for a one-off levy on those with assets over £500,000, including their home and pension.
The group of tax experts and economists said taxing the wealthiest in society would be a more efficient and fairer way of raising funds to sure up crisis-hit public finances than taking aim at the incomes of the wider population or consumer spending.
The chancellor has ruled out the suggestion, arguing it would be “un-Conservative” to go against the party’s values. ....

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