Older people should be targeted in a wealth tax raid to prop up public finances, says a think-tank.
The Left-wing Institute for Public Policy Research (IPPR) has called for a reform of a system that is ‘heavily tilted towards taxing work and younger earners’.
Its conclusions are likely to be looked at closely by Labour as Chancellor John Healey prepares for his first Budget in October amid mounting spending pressures – and after Prime Minister Andy Burnham refused to rule out a wealth tax.
But it could alarm many who have worked hard to afford homes and build nest eggs for later life.
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