BCCT’s Financial Weekly with 10x Wealth Management (Scott Kingsley)
INHERITANCE TAX could be a policy issue the Government looks at to help the UK economy recover after the coronavirus pandemic – and a plan to prevent avoidance from the wealthiest has been described as the “perfect route” for the Chancellor.
- The UK has entered recession after a 20.4 percent contraction between April and June. The UK’s slump is also one of the biggest among advanced economies, according to preliminary estimates. Chancellor Rishi Sunak warned earlier this month that the recession would represent a difficult time for the country. He said: “I’ve said before that hard times were ahead, and today’s figures confirm that hard times are here.
“Hundreds of thousands of people have already lost their jobs, and sadly in the coming months many more will.
“I can assure people that nobody will be left without hope or opportunity.”
Mr Sunak and Prime Minister Boris Johnson are considering their options as they contemplate policies aimed at kick-starting the British economy.
Reports suggest that British homes could be the new source of billions of pounds in much needed revenue for the Government in the form of a wealth tax, following the economic devastation the virus has caused.
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