Most people support a wealth tax on £10m fortunes and want to equalise capital gains and income tax, writes Caitlin Boswell. Plus letters by Christopher Bowser and Alan Fairs
The chancellor is missing an open goal by looking at inheritance tax while searching for the elusive billions needed to fix Britain (Treasury targeting inheritance tax reforms to help plug UK deficit, 12 August). The tax needs significant reform to make it fit for the 21st century, but it isn’t the magic bullet the government is after.
At the budget, Rachel Reeves could generate tens of billions of pounds by making tax changes that are overwhelmingly popular with the public and would be paid only by those with the broadest shoulders. Three-quarters of us want a wealth tax on net fortunes over £10m (backed by world-leading economists). Equalising capital gains tax with income tax is favoured by the majority too.
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