The boss of Lego has criticised Denmark’s proposals for a wealth tax – a policy which Left-wing politicians hope the UK will adopt.
Danish Prime Minister Mette Frederiksen has proposed an annual 0.5 per cent tax on assets worth more than £2.9million in a bid to be re-elected. Niels Christiansen, the toymaker’s chief executive, warned that this would lead to fewer jobs and ‘drain quite a lot of capital out of companies’.
‘There’s a high risk it would impact society pretty hard in the long run – less job creation, less tax generated from companies, less competitiveness for a broad range of Danish companies,’ Christiansen told the Financial Times.
Lego boss Niels Christiansen warned wealth taxes would lead to fewer jobs
The Chairman of shipping giant Maersk, Robert Uggla, has already said this would be ‘harmful to Denmark’, arguing: ‘This type of redistribution policy risks negatively affecting Danish companies’ access to capital.’
Kim Fausing, chief executive of technology company Danfoss, said: ‘It’s a fundamental problem of again driving Europe and Denmark in the wrong direction.’
In the UK, the Green Party is proposing an annual tax of 1pc on assets above £10m and 2pc on assets above £1bn, with politicians on the Left of the Labour Party also supporting the plan.
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