Should the next Budget tax wealth more rather than cut pensions and welfare?
The UK has no annual wealth tax. Wealth is taxed in parts, including capital gains tax at 18% and 24% and inheritance tax, and a surcharge on homes in England worth over £2m, announced in 2025, is due from April 2028. Chancellor John Healey delivers his first Budget on 28 October 2026 under Prime Minister Andy Burnham, who has said he will not go straight to a wealth tax. Burnham has also said some benefits will become conditional on work, and the triple lock on the state pension is committed until 2030. Campaigners back a 2% tax on assets above £10m, while the IFS has warned a wealth tax is hard to implement.
85 Opinions
We are starting to get in a cycle now. Tax wealthy people lose them. Tax more to make up for taxes lost then lose them. Does anyone ever learn?
Keep taxing earners and you'll find they stop working or if can leave altogether. Cut benefits,overseas aid etc . It's not the time to be generous
Lets make patrotism for the weathy too. If they lived in a country like Madegascar they would have little opportunity to accumulate more wealth than they could ever spend. So living in the UK aided their wealth accumulation. If they prefer counting their millions as against supporting their country with their good fortune they should go and leave their uk assets behind and not be able to return. A nice extreme opinion of the type the right favour.
Why not, for two year period they be able to help the country out of its debt. So thing with corporations tax. Now that would be patriotic!
Actually, we need to increase efficiency isn't, low cost and low distorting taxes on unearned land value rents from the land poor many to the land rich few, whilst cutting taxes on earned incomes.
No, the focus should be on stimulating growth by cutting taxes and energy tariffs. Relieving operating pressures on businesses, encourage investment as well as cutting State spending, including welfare
A comprehensive overhaul of government spending including taxation and benefits system is required
I think there are better places to start. Stop the boats Stop the handouts Stop foreign aid Scrap net zero
For me there would need to be a hard definition of "rich" rather than the emotive cry of Tax the Rich. Who would decide that? The wealth gap continues to widen.
Its quite simple for me, those who have less should not be made to struggle more, but those that can give more should do so.