The UK government’s deputy prime minister and leader of the Liberal Democrat party said there needed to be a debate about future tax priorities as part of efforts to cut the deficit beyond the next general election.
Those on incomes "well above" the average should pay their "fair share", Clegg told the BBC.
He refused to confirm reports he felt the top 10% of earners should pay more.
Financial advisers in the national and specialist finance press have warned the move would prompt a tax exodus, driving wealthy individuals to move assets and funds out of the UK and into low tax jurisdictions.
Some tax specialists have questioned the whether Clegg’s take on tax will ever get beyond a political statement.
Frank Strachan, Edwin Coe LLP tax partner, said “It’s Party Conference season so we shouldn’t be surprised to see headlines being generated by politicians.”
While Brendan Harper, technical services manager at FPI, said: "We will most likely need to wait until the Chancellor’s Autumn Statement to see how much of the rhetoric turns into detailed tax proposals. If past experience is indicative of the direction of travel, then two easy targets that would impact on personal financial planning could be alignment of the CGT rate with income tax rates, and further restrictions on pension tax relief.
He added that neither target would be good news for those saving for retirement and that "talk of wealth taxes appears at this stage to be restricted to some form of tax based on high-end real estate values. This will be difficult to plan your way out of. I eagerly await the details."
