In case you’re wondering how we are going to pay back all of
this money that the government have printed and borrowed this year, take a look
in the mirror.
A one-off tax grab on wealth above £500,000 could recover
much of the £280 billion the government has spent fighting coronavirus this
year, according to a group of experts.
A commission was set up led by assistant Professor Arun
Advani at Warwick University last April to look into a wealth tax in Britain.
Measures being considered include a 5% levy on:
·
housing
·
pensions
·
business
·
equity and
·
savings wealth.
At £500,000, around 8 million Britons, or one and six adults,
would be hit by the wealth tax.
Setting the threshold at £1 million would raise roughly half
this amount and at £10 million would raise just £43 billion from 22,000 people.
The average three-bedroom house in most of the south-east
cost the best part of half a million.
Stealing people’s money is not uncommon in Europe. Let’s not
forget Cyprus where the government stole its citizens bank balances to pay for
their mess.
Phasing out cash for digital currency would obviously make
this much easier. Currently there is around £50 billion of cash in circulation.
An Economist I know told me recently that he was looking
into the average person’s bank balance and found it had gone up by £8000 this
year due to reduced spending.
There is further bad news on the horizon for property owners
as the government steps up measures to meet climate control targets.
The average bill for householders could be as high as £8000
to make their homes more energy efficient.
Fossil burning boilers will be phased out by 2028 and gas
boilers by 2030.
The government is expected to bring forward the ban gas
boilers on new homes from 2025 to 2023.
The government are also expecting us to eat 9% less meat by
2025 and 20% less by 2030 and also to reduce our consumption of dairy products
by 20% over the next 10 years.
We will also be forced into exchanging our old petrol cars
for overpriced electric vehicles, that’s assuming their will be any road space
left on which to drive them!
This week, Boris Johnson is making last ditched attempt to
secure a deal with the European Union. Personally, I think we will end up with
a watered down, fudge of a deal we concessions being made on both sides.
The stock market went up on use of the vaccine but the pound
went down on fears of a no deal Brexit!
The shops are booming it again following the end of the
lockdown and supermarkets had the best month ever in November.
More articles and money news available at Money Tips Podcast - www.moneytipsdaily.com
·
Will stamp duty holiday be extended?
·
Biggest economic decline in 300 years
·
UK national debt now exceeds £2 Trillion
·
Government borrowing will reach £394bn
·
Average
house prices reach an all time high
·
Thousands
trapped in unsellable leasehold flats
·
Government extends
ban on landlords evicting tenants
·
Why UK Property
prices rising after stamp duty cut, despite the downturn?
·
New planning rules will open up more
opportunities to make money in
property
·
You can create a second income during the
lockdown…and come out stronger
·
Learn how to make money from property without
deposits, mortgages or cash
Millions of people face a bleak future post-Coronavirus
lockdown, as businesses disappear and the job furlough scheme eventually comes
to an end. However, life doesn’t have to end because of lockdown! You can join
thousands of ordinary people who have increased their income and added
streams of new income during this period.
Are you ready to adapt to the new economic model?
As lockdown restrictions around the world are being eased,
the economic model has subtly changed forever. How will you adapt to this new
way of working and running a business, what obstacles and opportunities lies
ahead? Will you be a participant or spectator in this revolution?
By Charles Kelly, Wealth Mentor, Property Investor, Author
of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.
There are more examples and practical
steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3
R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it
out on Amazon http://bit.ly/2MoneyBook.
If you’d like further information on wealth mentoring and
coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net
or send me a message through Facebook or my Money Tips Daily community. See
more articles at www.moneytipsdaily.com
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