Wealth Taxes Risk UK Growth for Little Revenue, Analysis Finds

Proposals to increase wealth taxes by those vying to become the next UK prime minister risk raising little extra revenue and could hit economic growth, according to new analysis.

Bloomberg Economics estimates that levies on capital and property are already on track to generate a tenth of Britain’s tax take by the end of the decade.

However, the front-runners gearing up to challenge embattled premier, Keir Starmer, have floated the idea of doing more to tax assets as they mull ways of boosting government revenue without hurting less well-off voters.

“If the goal of potential leadership candidates is to ...