Tax

Labour’s wealth tax proposal is deeply flawed

Will Labour ever stop pushing for punitive taxation? Not content with gifting the Conservatives an 80 seat majority in December, the supposedly more moderate Labour party under Keir Starmer is already dreaming up ways it can extract large sums from our pockets. Shadow Chancellor Anneliese Dodds floated a ‘wealth tax’ at the weekend, so that the burden of paying for the Covid 19 crisis might fall upon the ‘very best off people’. Except it won’t be the very best-off people who get whacked by a wealth tax, as she should surely know. The highly mobile global super rich wouldn’t hang around for five minutes after a Labour government announced a

Switzerland is now an enemy of the rich

Gstaad The staff are back and all is well, as they used to say long ago in faraway places. The gardener and the cleaner are Portuguese, and they greet me, with their inherent dignity, from afar. The Filipina maid and cook almost gets me in a headlock trying to thank me for keeping her on salary while she rested at home. I shoo her away. Who does she take me for, a lowlife cheapskate like Philip Green? I didn’t hesitate to send them all home. Mind you, I’ve taken such a shellacking on the stock market that I’ll soon be applying for a job myself, perhaps as an ageing gigolo

Footballers’ response to coronavirus: self-delusion or cheek?

Last week I was put on furlough from my job, which was – in a way – quite exciting, invoking images of sturdy sailors on shore leave (my grandfather, who was a sailor, had his own approach to this; jump ship from a vessel in port if he fancied a change). Anyway, the largest bit of my present work is to review art exhibitions and since there aren’t any exhibitions to review, and there’s a limit to the number of times you can exhort people to have a look at the Hermitage online, I could kind of see the point. But now I’m thinking that I was actually dreadfully short

A fuel duty hike shows the Tories are struggling for Budget ideas

Could motorists be hit with the first fuel duty rise in ten years in this month’s Budget? According to the Sun, the PM’s chief advisor Dominic Cummings wants to use petrol and diesel as a revenue-raiser to fund big infrastructure projects outside the capital. But ending the fuel duty freeze after a decade might not be a good idea, particularly when many new Tory voters in the North are likely to be the worst affected. Fuel duty is an easy way to raise revenue in theory, as the demand for fuel is always high. It is also a tax that is difficult for motorists to avoid (though this doesn’t stop some from trying). Yet

How would Labour’s proposed tax grab affect your home?

At first glance you could be forgiven for thinking that Labour’s publication ‘Land for the Many’ is a set of policy ideas that solves the housing crisis. Increasing the supply of affordable housing and freeing up land to build, improving access to existing stock and transparency sounds fair, right? Yet tucked away inside the report, you’ll find a range of measures that could pull the market as we know it to pieces; it’s the most radical sets of property proposals since the mass building plan after the Second World War. The report’s editor, George Monbiot, has not thought through the unintended consequences of the proposals. Just one example and perhaps