Latest news with #ArunAdvani
The Guardian
10-07-2025
- Business
- The Guardian
Is it time for a wealth tax on the super-rich?
After cuts in Labour's proposed welfare reform bill caused uproar, many of the party's supporters insist it's time for a different approach. Rather than cutting the benefits bill or public spending, why not tax the wealthiest more? It's a question Keir Starmer was asked in PMQs, and he replied by saying it wasn't possible to 'tax our way to growth'. The millionaire Dale Vince disagrees. A former new-age traveller who made his money in green energy and has donated to Just Stop Oil, he is part of the Patriotic Millionaires organisation who think it is high time people like them are asked to increase their contributions. 'There's a whole bunch of us. We're all saying the same thing, that we can afford to pay more tax. Rich people should pay more tax, and we can use that money to reduce inequality in our country.' The tax expert and economics professor Arun Advani explains how a wealth tax could work and what the dangers could be. Would it send millionaires fleeing from the UK – and would that matter? And what other levers are at the government's disposal?
Bloomberg
20-06-2025
- Business
- Bloomberg
Bloomberg UK Politics: The Revolting Rich
One of the architects of the government's flagship tax crackdown on the wealthy says it was a 'mistake' to hit 'non-doms' with an immediate 40% inheritance tax on their overseas assets. Arun Advani, from the independent Centre for the Analysis of Taxation, says a gradual approach would have stopped many of the super-rich from leaving the country. He joins Yuan Potts and Caroline Hepker to discuss what effect the changes are having and what the government should do next.
Bloomberg
18-06-2025
- Business
- Bloomberg
UK Inheritance Tax Surge on Rich Was Mistake, Policy Author Says
One of the architects of the UK Labour government's flagship crackdown on the wealthy said it was a 'mistake' to expose non-doms to an immediate 40% inheritance tax on their overseas assets. Arun Advani, director of the independent Centre for the Analysis of Taxation, told Bloomberg News he had recommended staggering the introduction of IHT on the super-rich who live in Britain but are not resident for tax purposes. A gradual approach would have stopped many of them leaving the country, he said.
