The proposed 2% wealth tax on individuals with assets over £10 million is gaining attention ahead of the government’s Spring Statement, with support from Labour MPs, Green Party, lobby groups, and charity organizations. The tax could potentially raise £24 billion per year, but critics are skeptical due to possible tax avoidance strategies. While many support the tax to fund public services and address economic inequality, challenges in administration and potential negative impacts on wealth accumulation and emigration have been raised. Jason Hollands, managing director of Evelyn Partners, criticizes the idea of a wealth tax, stating that it would drive capital and people to other jurisdictions and hinder wealth creation. Despite lobbying efforts from Patriotic Millionaires UK, there is little government enthusiasm for a wealth tax, with Treasury emphasizing the contributions of the top 1% of taxpayers and the revenue from existing wealth and asset taxes to fund public services.
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Are Leftovers at Restaurants Over?
Emmett Burke, owner of two Chicago-style pizzerias in Manhattan, notices a trend of diners not taking home leftovers, attributing it to social stigmas and ease of ordering fresh food. Restaurateurs in other cities have observed a similar shift, with factors like demographics and logistics playing a role. While some establishments, like Greek restaurants, encourage taking home leftovers, others, like Korean tasting-menu restaurants, feel disappointed when guests request to do so. Full Article
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