Posted on 10/13/2025 4:53:39 AM PDT by C19fan
Rachel Reeves could impose a 'one-off' tax on wealth to appease militant Labour MPs, according to a report today.
In a major analysis ahead of next month's Budget, the Institute for Fiscal Studies warns the Chancellor against imposing a permanent wealth tax, saying similar attempts have failed around the world.
But the think-tank says a 'one-off' raid would be far harder for the rich to dodge as they would have no opportunity to move their assets.
(Excerpt) Read more at dailymail.co.uk ...
One off = every year.
They’re running out of “other peoples’ money” ...
Britain’s wealthy are welcome to come here and buy President Trump’s “Golden Visa” instead of staying in a dying nation being overrun by savages.
Britan’s budget deficit in 2025 is projected to be 5% of GDP. It has been at around that level for the past five years. Public debt is around 100% of GDP.
How Deep States worldwide define wealthy: Anyone collecting a private sector paycheck.
Europe’s problem is that Pres. Trump has cut off the flow of laundered US taxpayer money that was keeping Europe’s welfare states afloat.
It’ll be interesting to see if this is really an income tax hike, or if the UK’s Deep State is now desperate enough to try to stick up the wealthy.
No tax is ever “one off.” Once started it will never end. Pennsylvania still has a tax for the Jamestown flood of 1889.
“rich will move their assets”
Rich people will buy multi-year income streams, say shares in the first five years’ sales of a drug currently under development.
“Britain’s budget deficit in 2025 is projected to be 5% of GDP. It has been at around that level for the past five years. Public debt is around 100% of GDP.”
Almost as bad as the USA!
Rates for a single property
You pay SDLT at these rates if, after buying the property, it is the only residential property you own. You usually pay 5% on top of these rates if you own another residential property.
Property or lease premium or transfer value SDLT rate
Up to £125,000 Zero
The next £125,000 (the portion from £125,001 to £250,000) 2%
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%
https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
That’s a sales tax on property.
Someone’s gotta pay for all the hotels, housing and welfare needed for the millions of migrants let into the UK:
I suspect The Rich have already moved their assets out of the country - just as The Rich are fleeing NY City for Florida under threat of a Mamdani mayor - who has already vowed to target them for new taxes.
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