#fiscal-risk

#fiscal-risk

The top 1% of taxpayers are responsible for around a third of the total paid in Income Tax and Capital Gains Tax (CGT), new data from Wealth Club, the UK's largest non-advisory investment service for tax-efficient and private market investments, shows. Its Freedom of Information request to HMRC found 500,000 individuals paid £93.828 billion in income tax and CGT in the 2023/24 tax year equivalent to 33% of the total £288.5 billion raised.

One scenario is that growth continues more or less as it has for the last 20 years. If so, the current federal fiscal trajectory is unsustainable,

With U.S. national debt now topping $37.8 trillion and interest payments exceeding $1.2 trillion, Kelly said the debt-to-GDP ratio-already at 99.9%-will likely keep rising even under moderate growth. Despite tariff revenues and temporary deficit relief, he cautioned that political choices or a slowdown could quickly worsen the fiscal picture, urging investors to diversify away from U.S. assets before "going broke slowly" turns fast.