Tax the Wealth of Older Britons to Help the Young, Report Argues
- Resolution Foundation chair makes case for capital taxes
- Warns health-care costs set to soar as population ages
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Britain should impose higher wealth taxes on the older generation to ease the growing burden on young people, according to the Resolution Foundation.
In a speech Monday, Executive Chair David Willetts will warn that welfare spending is set to rise by the equivalent today of 60 billion pounds ($83 billion) by 2040 as aging “baby boomers” drive up the cost of health care.