Why a UK wealth tax would fail

Since the start of the new tax year the UK population has been experiencing one of the highest tax burdens since the end of the Second World War. The Conservative government continues to try to balance the books and get the country’s burgeoning debt under control and sees taxes as the primary way of achieving its aims.

The furlough scheme (including the unrecoverable £16bn amount of fraud) and general cost of the pandemic still weighs heavy on the UK and – let’s be honest – most of the countries around the world so the current Conservative government (as would a possible future Labour government) will need to devise cutting-edge tax policy ideas to raise much needed revenue while keeping productivity high and most of the electorate on board.

Tax policy has been a main battleground for many a general election and the next election will be...