Ahead of next month’s crunch Budget, the Institute for Fiscal Studies’ research (IFS) warns the chancellor against a permanent wealth levy View 2 Images Rachel Reeves may implement a one-off tax on the wealthy (Image: Andy Stenning/Daily Mirror)

Rachel Reeves could clobber the rich with a “one-off” tax to keep militant Labour MPs at bay, a report claims. ‌

Ahead of next month’s crunch Budget, the Institute for Fiscal Studies’ research (IFS) warns the chancellor against a permanent wealth levy. ‌

It claims similar attempts in other nations have flopped but says a “one-off” raid would be harder for the wealthy to dodge by shifting their assets. ‌

The report by the think-tank said: “While there are serious drawbacks to a recurring wealth tax, a tax based on an unexpecte

See Full Page