UK wealth tax may raise £10bn annually

A study suggests that implementing a 2% wealth tax on households with over £100 million could generate approximately £10 billion annually in the UK, affecting fewer than 1,000 of the richest households. Academics recommend this targeted measure to address inequality and fund public services. The proposal includes calculating total wealth, including property and assets, and preventing tax avoidance with strict enforcement and residency rules. The idea aligns with global discussions on taxing extreme wealth to reduce inequality.

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