Delivering a wealth tax: The role of government

Thomas Pope and Gemma Tetlow

Wealth and Policy, Working Paper 112

30 Oct 2020

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This paper sets out the role of government – particularly officials in the Treasury and HM Revenue and Customs – in delivering a wealth tax. We argue that it could take over four years to rigorously consider the options, build public support and effectively legislate for and implement a new net wealth tax. However, such a long timescale may not be consistent with the UK’s five-year electoral cycles, under which governments find it easier to pass major tax reforms early in the parliament. Ministers could seek to expedite the process but there would be risks in doing so, particularly if the tax were to affect a relatively large proportion of the population and if the government had no existing mandate for this reform.

DOI: 10.47445/112
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