Wealth taxes may be rolled out globally, economist says

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The world’s wealthiest could be subjected to higher tax rates as governments scramble to fund spending and repair their economies amid the coronavirus crisis, an economist has predicted.

Speaking to CNBC’s “Street Signs Europe” on Monday, Roger Bootle, chairman of Capital Economics, said he was concerned that some governments — including Britain’s — would assume tax rates must go up in order to mitigate the impacts of the pandemic.

“If the deficit doesn’t come down dramatically as a result of economic growth alone, then something will have to be done, and there’s a choice between either reducing the rate of

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More countries could default on debt, economist says

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A worker carries out sanitation operations for the Coronavirus emergency in Piazza dei Miracoli near to the Tower of Pisa in a deserted town on March 17, 2020 in Pisa, Italy.

Laura Lezza | Getty Images

An increasing number of countries could default on their debt in the coming 12-18 months as governments globally increase spending to limit the economic damage from the coronavirus pandemic, an economist said on Wednesday.

“I do think we will see some issues there, possibly we could see a euro zone crisis come back with countries like Greece or Italy … likely to be at

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