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Reuters exclusively reports Britain asks private bankers to discuss potential wealth taxes

Reuters exclusively reports Britain asks private bankers to discuss potential wealth taxes

Reuters exclusively reported that Britain’s finance ministry is canvassing private bankers over how the country’s richest citizens might help pay for the soaring cost of coronavirus relief packages, with potential tax hikes likely to sit high on the agenda. Britain’s emergency public spending surge and tax cuts in response to the pandemic are forecast to cost around 133 billion pounds this financial year and lift its budget deficit to wartime levels. While the government engages often with the banking industry – particularly in the current crisis, including over state-backed loans delivered by banks – it is unusual for officials to consult private bankers on policy matters.