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Story summary
- Rachel Reeves, British Chancellor of the Exchequer, told the International Monetary Fund (IMF) that higher taxes on the wealthy are needed, saying those with the broadest shoulders should contribute more.
- She ruled out a wealth tax but signaled changes to capital gains taxes.
- Critics say the approach could deter investors, noting incentives abroad for wealthy talent.
- Britain's economy appears stagnant as businesses delay decisions until the Budget.
