Just in case dear readers mistake levity, for a lack of homework.
In the absence of offsetting tax rises or spending cuts, this would widen the government’s budget deficit over time and put public sector net debt on an unsustainable upward trajectory.
https://cdn.obr.uk/FSR-July-2018-1.pdf
And in case anybody thinks, this is all just somebody else's problem...coming to a house near you within 5 years (no matter what flavour of politician inhabits no 10):
- Wealth tax (that would be your house, they is wanting to tax)
- Regulated Wealth tax avoidance measures (that would be regulating them that would help you avoid such tax).
- Placing the entire "estate planning" industry inside the FCA (it is currently largely unregulated, in a legislative sense)
Watch. This. Space.