Deficit what deficit?

According to the latest Sunday Times rich list “The total wealth of the richest 1,000 individuals and families in Britain has more than doubled in the last 10 years to £547bn.”

Scope here for some tax raising we think!

The list is headed by Mr Blavatnik,at $13.17 billion, his investments range from metals and oil to music publishing and digital media. He also has a £41m home in London.

We doubt whether changing council tax bands would deter the really affluent from buying properties in London or anywhere else and neither would a Land Value Tax. Both are in effect a licence for the rich to purchase high value properties. The UK needs a set of policy initiatives which ensure the rich do pay their fair share of taxes and can no longer have an undesirable impact on the housing market – whether in London or anywhere else!


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