Britain’s Tax Overhaul Proposal | London News

Economists including Jim ONeill are calling for a radical tax overhaul in Britain, proposing to replace income tax, capital gains, inheritance tax, and more with a single “national contribution” that would apply to all income sources. The goal? Generate an extra $75 billion annually to fund universal public services like free school lunches and bus rides, while tackling Britain’s spiraling debt and crumbling public services. With Andy Burnham poised to lead Labour—and possibly become Prime Minister—the choice of his chancellor will determine whether this bold plan takes shape. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4211ef0fad40880e