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New Wealth Tax introduced to pay off COVID debt - Wafi Ali, STOGS
After a huge £280bn were spent by the government due to the colossal coronavirus expenses, £230bn more than what the government’s estimated expenditure for the pandemic was at the beginning, the British government is now finding itself in a position of nowhere to look but up. Dr Arun Advani, an assistant professor at the University of Warwick said, “We’re often told that the only way to raise serious tax revenue is from income tax, national insurance contributions, or VAT. This simply isn’t the case, so it is a political choice where to get the money from, if and when tax rises.” The Institute of Fiscal Studies also reported that the bottom 10% of earners were most likely to have jobs in sectors that have shut down or can’t work from home. Hence, it was proven that it would be too hard on people if income taxes were raised generally.  ....

United Kingdom , Arun Advani , Rebecca Gowland , Madsen Pirie , Adam Smith Institute , University Of Warwick , Institute Of Fiscal , Fiscal Studies , Second World , ஒன்றுபட்டது கிஂக்டம் , பைத்தியம் பிரீ , பண்படாமனித இயல்பு ஸ்மித் நிறுவனம் , பல்கலைக்கழகம் ஆஃப் வார்விக் , நிறுவனம் ஆஃப் நிதி , நிதி ஆய்வுகள் , இரண்டாவது உலகம் ,