Hmm. I really don’t think they’re as dumb as they look. These tax hikes are made to look like they affect the rich (who know how to stay rich), but it’s just a stealth tax on the aspirational middle class. Plus it gives them reason to increase other taxes and/or print. They’re crooks, I bet there’s always a hidden agenda!
The UK is so screwed (as if we didn’t know)!
They slashed capital gains allowances to boost revenue. Instead, high earners left the country.
Receipts dropped by 18%. That’s a £2.7 billion shortfall!
Has no one in government heard of the Laffer Curve?
https://www.ft.com/content/8d8e1848-5a24-49a1-a695-2800345ff425
Discussion
Do not ascribe to malice what can be easily explained by incompetence.