“Google maps for graves” to provide searchable online database
A project that has been termed “Google maps for graves” intends to map and photograph the Church of England’s 19,000…More
Chancellor Rishi Sunak is under pressure from campaigners to conduct an urgent reform of inheritance and property taxes, to help recover the £280billion spent in response to the coronavirus pandemic.
A report by the Resolution Foundation has found that official statistics do not account for at least £800 billion in assets held by the wealthiest 1% of people in the UK, and proposed greater taxation as a way to boost crucial public spending.
Jack Leslie, an economist with the Foundation, said:
“The UK has undergone a wealth boom in recent decades, which has continued even while earnings and incomes have stagnated. But official data has struggled to capture these gains, and misses £800 billion of assets held by the very wealthiest households in Britain.
“With the country facing a decade of mounting fiscal pressures, now is the time for Britain to do a better job of taxing its record levels of wealth by reforming our capital gains, inheritance and property taxes.”
Mr Sunak has spent £280billon supporting jobs and businesses during lockdown and has earmarked a further £55billion for this year.
The latest round of coronavirus spending will include £18billion to protect public services, £3billion to fund NHS recovery, £2billion for transport and £3billon for local councils.