Wealth tax could push £100bn out of the UK - Rathbones

The UK Labour Party has hinted it is looking to introduce a wealth tax in a bid to address wealth inequality and address the fiscal shortfall, estimated to be between £20bn and £50bn. But research by Rathbones, based on analysis of official UK economic data and a study on the impact of wealth taxes, suggested that at least £100bn in assets could move abroad or into assets exempt from the tax if the plans are implemented. Setting up the wealth tax could also cost the government £600m, while taxpayers could end up shouldering ongoing compliance and administrative costs of at least £700m...