0:00
What do we expect the Chancellor will tax
0:03
Well, everyone is talking about a wealth tax, but we already have wealth taxes
0:09
First, we have capital gains tax. You have to be relatively wealthy to have the ability to get capital gains
0:15
We also have a tax on when you buy houses. Almost everyone I know, especially your age
0:21
if they're looking to buy their first house or looking to go to a family house
0:25
they want to get married and have children, they're all discovering they've got this massive stamp duty to pay
0:30
We also have stamp duty on shares, and then we've got a government wondering why people
0:35
are not listing in the UK. Well, if you've got a dual listing, you're going to buy in a country without stamp duty on shares
0:41
I mean, that's pretty obvious. We also obviously have death duties, and our death duties are driving the rich people out of the UK
0:50
because they're 40%, which is incredibly high. A lot of countries have death duties
0:55
but they kick in at the real wealth. You know, ours start at £325,000, which is nothing
1:06
You know, in the US they start at about $16 million. So you're catching a whole..
1:12
The US wants people to be rich. They want people to start businesses, make money
1:17
and they know that that helps the whole economy. Absolutely. We've got a government that wants everyone to be poor
1:23
and they haven't thought that through yet
