It cannot be ruled out that Labour’s current policy will not change, writes Philip Simpson KC (Old Square Tax Chambers).
One obvious measure that a Labour government might take is to introduce a wealth tax. Various forms are imaginable. Will Labour introduce such a tax? And if they do what form would it be likely to take?
The question arises because it is highly unlikely that a Conservative government would ever introduce a wealth tax. For example in 2020 Rishi Sunak then chancellor said that neither then nor indeed ever was the right time to introduce a wealth tax. Similarly Labour party policy as of August 2023 was not to introduce any wealth tax. But Neil Kinnock has recently advocated for a wealth tax; the former shadow chancellor John McDonnell has hinted that a wealth tax is the way to...
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It cannot be ruled out that Labour’s current policy will not change, writes Philip Simpson KC (Old Square Tax Chambers).
One obvious measure that a Labour government might take is to introduce a wealth tax. Various forms are imaginable. Will Labour introduce such a tax? And if they do what form would it be likely to take?
The question arises because it is highly unlikely that a Conservative government would ever introduce a wealth tax. For example in 2020 Rishi Sunak then chancellor said that neither then nor indeed ever was the right time to introduce a wealth tax. Similarly Labour party policy as of August 2023 was not to introduce any wealth tax. But Neil Kinnock has recently advocated for a wealth tax; the former shadow chancellor John McDonnell has hinted that a wealth tax is the way to...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
