How Rachel Reeves can raise money and also make the tax system fairer

‘Inheritance tax is hated by most; it appears to be a tax on ambition. Work all your life and, when you die, the government comes along and helps itself.’ Photograph: Rosemary Roberts/Alamy

The chancellor is missing an open goal by looking at inheritance tax while searching for the elusive billions needed to fix Britain (Treasury targeting inheritance tax reforms to help plug UK deficit, 12 August). The tax needs significant reform to make it fit for the 21st century, but it isn’t the magic bullet the government is after.

At the budget, Rachel Reeves could generate tens of billions of pounds by making tax changes that are overwhelmingly popular with the public and would be paid only by those with the broadest shoulders. Three-quarters of us want a wealth tax on net fortunes over £10m (backed by world-leading economists). Equalising capital gains tax with income tax is favoured by the majority too.