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Wealth tax may push Britain toward emigration says Kilborn
Michael Caine and other top Britons threaten to flee if Labour’s wealth tax proceeds. The plan targets net worth including homes and art with spot valuations and could take effect in 1977. Critics warn a leakage of business leaders and scholars while Treasury estimates put new revenues at 200 to 300 million dollars.
MENTIONED IN THIS ARTICLE
London
Michael Caine
California
Earl of Iveagh
Arthur Guinness Breweries
Ireland
Britain
Harry Johnson
University of Chicago
London School of Economics
Harold Wilson
Labor
Denis Healey
Europe
Wilson
Hugh P. Greenwood
Whitney Murray & Co
Treasury