This Is Money Show

Would a 'wealth tax' work in Britain and could it help pay off the huge coronavirus debt?

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Sinopsis

This week, a new in-depth report from the Wealth Tax Commission recommended a one-off 'wealth tax' on the richest households rather than hiking taxes for the masses. It comes as the national debt has spiralled this year as the Government spent more than £280billion tackling the pandemic and its financial fallout, with Chancellor Rishi Sunak claiming the 'economic emergency' has only just begun. How would it work, could it be a good idea and how unpopular would it prove? Simon Lambert, Lee Boyce and Georgie Frost take a look.  Elsewhere, millions of mortgage payment holidays have been handed out since March - an agreement with lenders to help homeowners during the coronavirus crisis. But for one couple who extended the payment holiday, it turned into a credit report headache when they looked to downsize. In the property market, a new report suggests that stamp duty savings are now being wiped out by house price gains in recent months. Should investors run to the hills if one of the companies