The IMF world bank is proposing a ten per cent wealth tax on all households in the UK and the rest of the Eurozone. What this would mean is men and women having to pay a levy on the total value of their accumulated assets, including their properties, cash, bank deposits, money funds, and savings in insurance and pension plans. The amount payable would also depend upon whether they have any businesses, personal trusts, corporate funds, earnings, loans and mortgages. All of these things are already taxed – so a wealth tax would represent an additional tax on the same assets. In other words, we would be taxed twice. The IMF, under the leadership of Christine Lagarde says that imposing such a tax would help to correct the levels of debt in developed nations, including the UK and countries across the EU.
Posted on: Wed, 31 Dec 2014 13:29:34 +0000
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