Why a wealth tax won't work

For a Chancellor who will soon be tasked with paying the nation’s Covid debts, the latest polling on where Britons think he should find the cash will have made interesting reading. An Ipsos Mori poll suggested 41pc of respondents think Rishi Sunak should hit those with more than £500,000 in net assets with a wealth tax: politically explosive territory where few Chancellors have dared to tread. “Novel taxes such as a wealth tax clearly do have a degree of popularity,” said