DEON GOUWS: No dog? I’d rather pay tax
Yes, tax is a pain. But it just means you have money — and billions of people would envy you for that
One of the Tories’ slogans in the recent UK general election was that dogs bark, cats meow and Labour puts up your taxes. And, sure enough, in her first statement to the House of Commons as chancellor of the exchequer, Rachel Reeves paved the way for higher taxes when giving details of a £22bn “black hole” in the nation’s finances inherited from the previous government. Some “difficult decisions” would have to be made as a result, was the way she put it.
Since then Reeves has been light on details, but practically everyone in the UK expects, among other things, capital gains tax to rise sharply at the time of the autumn budget, scheduled for the end of October. And, just as the new chancellor has difficult decisions to make, some of the wealthiest taxpayers she is likely to target are now facing some tough choices. Do they stay put and continue to enjoy the glorious British weather? Or is it perhaps time to consider an alternative? ..
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