A Wealth Tax Abandoned: The Role of the UK Treasury 1974-6

23 Pages Posted: 30 Sep 2011

See all articles by Howard Glennerster

Howard Glennerster

London School of Economics & Political Science (LSE)

Date Written: June 2011

Abstract

The distribution of wealth is widening in many countries and with it the importance of inherited wealth. In 1974 a Labour Government came to power in the United Kingdom committed to introducing an annual wealth tax. It left office without doing so. Using the official archives of the time and those of a key advisor this paper traces both the origins of the policy and its fate in Whitehall. It explores two related questions. What does this experience tell us about the role of the civil service in the policy process in the UK and what lessons might be learned by those wishing to tackle the issue of widening wealth disparities today?

JEL Classification: H27

Suggested Citation

Glennerster, Howard, A Wealth Tax Abandoned: The Role of the UK Treasury 1974-6 (June 2011). LSE STICERD Research Paper No. CASE147. Available at SSRN: https://ssrn.com/abstract=1935756

Howard Glennerster (Contact Author)

London School of Economics & Political Science (LSE) ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

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