Wealth tax won’t raise enough for BIG – but VAT, income tax hike may, says Treasury’s Momoniat

Ismail Momoniat, the acting head of National Treasury. Raising VAT or Personal Income Tax would be more effective in funding a Basic Income Grant than a wealth tax, says Treasury’s Ismail Momoniat.

He also expressed scepticism of new UK Prime Minister Liz Truss’ plan to cap gas prices while lowering taxes.

Momoniat says with certainty punitive instruments like the carbon tax or sin taxes will likely increase. Get the biggest business stories emailed to you every weekday or go to the Fin24 front page . A wealth tax won’t be able to raise enough revenue […]

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