Callaghan and His Wgealti Tax,

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= 1487 According to the Economist some §,000 people own on an average some 578,250 pounds warth of property, in an article based on Inland Reverme figures. The Economist says: "Callaghan the Shadow Chancellor has not proposed a wealth tex. He has invited the reigning Chancellor to consider sich a tax on all wealth, This trial balloon may be helped along by a few facts, Some 400,000 people might be affected; this was the number Mr, Boyd Carpenter told the House of Commons last November has wealth exceeding £20,000, om which a tax of one per cent would yield £250,000,000, According to an earlier parliamentary report, if the tax were graduated from 4 per cent on wealth of £20,000 to £50,000 to 5 per cent on wealth over £400,000, the yield would be about £300,000,000."