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Sunak might copy Biden's capital gains raid – but it won't solve his problem


Sunak might copy Biden s capital gains raid – but it won t solve his problem
Some Americans will be paying tax rates of more than 50pc, the highest since the 1920s
29 April 2021 • 10:00am
Where American goes, the world follows. Does this mean President Joe Biden’s plans to raise income and capital taxes to pay for the pandemic will be replicated on this side of the pond?
The President arguably has less of a battle on his hands than Boris Johnson and Rishi Sunak would. For starters, Mr Biden has not bound himself with an election “triple lock” promise not to raise income tax, National Insurance and VAT. Those three levers out of bounds leave only corporation tax with the heft to raise serious amounts of cash, which the Chancellor duly did at the last Budget. ....

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