Burnham faces investor revolt warning as wealth tax rears fuel capital flight concerns - London Business News
Burnham faces investor revolt warning as wealth tax rears fuel capital flight concerns - London Business News
Source: London Business News
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DW NOTE
Burnham inherits a Britain where the top 1% already pay 29% of income tax and produce 11% of VAT receipts, while energy costs have destroyed industrial margins and the Hormuz closure pushed inflation back above 4%. A wealth tax doesn't fund spending, it announces that capital should domicile elsewhere. France tried this in the 1980s — it raised one-third of forecast revenue and cost ten times that in flight. The revolt isn't coming, it's already priced in.