Covid-hit governments should tax the rich, says study

CASH-STRAPPED nations seeking to restore virus-ravaged finances should not be “unduly worried” about economic fallout from taxing the rich, a study found this week.

The research paper, penned by the London School of Economics (LSE) and King’s College London (KCL), concluded that tax cuts for the richest members of society generate greater inequality and do not stimulate economic growth.