His appointment points to significantly higher public expenditure at a time when UK borrowing costs are already elevated,” says Pemberton. Land tax: Burnham has spoken in favour of an annual charge based on the value of land, suggesting that its introduction could allow council tax and stamp duty to be scrapped. Property tax: An alternative to a land tax being floated is a flat-rate charge on the value of properties. Could a separate ‘wealth tax’ be on the cards? The UK tax landscape feels like it’s shifting every few months, says Johnson.