Pressure on Reeves to tax the wealthy

Tricky task: Reeves speaking at a conference in Britain. She is expected to announce a budget on Oct 30 that seeks fund public services and balance the books. — Reuters

LONDON: British chancellor Rachel Reeves could raise £15bil or about US$20bil a year from the wealthiest Britons by targeting capital gains and inheritance without triggering an exodus of millionaires, according to two think tank reports.

Aligning capital gains tax (CGT) with income tax would raise £14bil, the Institute for Public Policy Research (IPPR) said.