CLA responds to Wealth Tax Commission report

Responding to the launch of the Wealth Tax Commission’s report, CLA Director of External Affairs Jonathan Roberts said:

“We recognise the significant strain Covid-19 has placed on the national economy, and no doubt government will want to explore a number of different revenue-raising options in due course.  But it should remember that no country ever taxed its way to prosperity.

“Government will know that many rural business-owners might, on paper, be asset rich but still have very low cash reserves.  Oftentimes these are the people who do most to feed the nation, develop environmental schemes or diversification projects to create jobs for local people.   The Treasury must look on these businesses favourably in any change that lies ahead.

“In the meantime, it is vital that Government furthers its ‘levelling up’ agenda by investing in the countryside.  The rural economy is, at present, 16% less productive than the national average – a productivity gap worth £43bn in England alone.  Policies designed to create sustainable, long-term economic growth should be the Treasury’s number one priority.”