UK rich face property tax raid ‘within weeks’, says government minister

The UK’s rich face a further coalition tax raid ‘in the next few weeks’, according to the government’s business secretary Vince Cable.

Speaking on the BBC’s Andrew Marr Show on UK television on Sunday, Cable (pictured) signalled the government would use the so-called Autumn Statement, on December 5, to unveil a new tax rate for the well off.

UK newspaper the Telegraph reports Cable said the debate around taxing the rich would be “resolved in the next few weeks”. The paper said the most likely solution would be to increase taxes on homes.

Cable said: “There needs to be a sense of fairness – better off people in society have got to contribute more. There are arguments around taxation, property taxation – I do not know where that has got to be it will be resolved in the next few weeks.

“But the principle is right – the people at the top of society have got to pay more.”

 

This article was first published on Investment Week

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