Taxes

British Deputy PM Calls for "Wealth Tax"

It's only temporary, of course

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Nick Clegg has called for a new emergency "wealth tax" on richer Britons during the economic downturn.

The Deputy Prime Minister said that "people of very considerable personal wealth have got to make a bit of an extra contribution" towards what he describes as the "national effort".

Mr Clegg will outline plans for his new wealth tax—which he suggests is necessary to ensure that British society remains "cohesive"—at the Liberal Democrats' party conference next month.