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The UK Doesn’t Need Any More Wealth Taxes

  • A leading economist warned that a wealth tax would be nearly impossible to implement due to significant administrative challenges, despite increasing public support for it.
  • Polling by YouGov indicates that 77% of people prefer increasing taxes on the richest instead of cuts to public spending.
  • Paul Johnson of the Institute for Fiscal Studies stated that while a 2% tax on net assets over £10 million could raise money, detailed administrative issues could make it costly.
  • Labour MP Nadia Whittome urged the government to listen to the public and ensure the richest pay their fair share in taxes amidst ongoing welfare cuts.
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Bias Distribution

  • 80% of the sources lean Left
80% Left
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The Independent broke the news in London, United Kingdom on Tuesday, March 25, 2025.
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