The black hole in the UK’s finances could be closed using a string of “wealth taxes”, campaigners have told the new prime minister.
Tax Justice UK has urged Rishi Sunak to introduce five tax reforms targeting the very wealthy, including equalising capital gains tax with income tax.
The campaign said that alone would raise £14bn a year, while putting national insurance on investment income would raise £8.6bn. Introducing a 1% tax on personally-held assets valued at more than £10m would raise an extra £10bn, while closing loopholes on inheritance tax and scrapping the non-dom regime would raise £4.6bn.
