Robison plots tax on jewellery and other assets

Shona Robison delivering budget
Shona Robison: is looking into a wealth tax

The SNP is considering a wealth tax that would target individual assets such as savings, pensions and even jewellery.

It has appointed a market research company to assess “opportunities, challenges and practical considerations associated with introducing wealth taxation in Scotland”.

The firm will investigate other “international examples”.

Labour Chancellor Rachel Reeves ruled out a similar plan to tax personal assets, but the SNP conference in October voted for a wealth tax which has also been demanded by the Scottish Greens.

Craig Hoy, the Scottish Conservative finance spokesman, told The Scottish Mail on Sunday: “Given the SNP’s addiction to raising taxes, it’s no surprise they are contemplating a wealth tax.

“They’ve already imposed the highest income tax in the UK and hammered households and businesses with rising bills that have failed to produce the promised revenues.

“It’s not clear what a wealth tax would entail, but it would deter exactly the entrepreneurs and aspirational people essential for economic growth.”

The Scottish government said: “We are exploring what further wealth taxation could look like for Scotland, understanding the opportunities and challenges this may offer our tax system, and the steps needed to progress towards this broadening of tax options.”

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