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For instance, he points out that tax policies for inheritance can be utilized more effectively without adversely impacting the majority. By analyzing different tax systems, Needle argues that finding a balanced approach to tax reform is essential for fostering growth.
The Future of Tax Policy
Despite the many challenges facing tax reform, Needle remains hopeful that more straightforward, progressive policies could be established. He notes that real reform hinges on a government willing to take bold steps for the greater good, something that is often compromised by the fear of electoral consequences.
The conversation around property tax, capital gains, and the effective use of wealth taxes demonstrates the urgent need to rethink how we approach taxation not only in the UK but globally.