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Introduce a Luxury Item Tax

Comment 12th July 2010

Introduce a tax of say, 5% on all luxury items. For instance cars costing more than £40,000, wine costing more than £40 a bottle, jewelry costing more than £1000, hotels costing more than £300 per night, houses costing more than £1M…….the list is endless. If that is too complicated, then you can reduce the bureacracy by limiting the targeted items to say cars, private aircraft and private property. Only the very rich will be affected, and it is doubtful that it will change their habits. they can fford a little more!

Why does this matter?

It could bring in useful revenue to the treasury and it should not be that difficult to introduce and operate.

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