Covid wealth tax proposals 'unlikely' to progress under Tory government

Report outlined one-off 5% tax on wealth above £500k

Jenna Brown
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The report said a one-off wealth tax of 5% (over five years) would raise at least £260bn including administration costs.
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The report said a one-off wealth tax of 5% (over five years) would raise at least £260bn including administration costs.

A one-off wealth tax to pay off the Covid-19 deficit has been dismissed by tax experts who say a Conservative administration is unlikely to back the recommendations outlined in a report released today.

The report, A wealth tax for the UK, from the Wealth Tax Commission outlined proposals which included a potential one-off tax on people who have assets of £500,000. Their assets would include their...

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