The boss of Lego has criticised Denmark’s proposals for a wealth tax – a policy which Left-wing politicians hope the UK will adopt.

Danish Prime Minister Mette Frederiksen has proposed an annual 0.5 per cent tax on assets worth more than £2.9million in a bid to be re-elected. Niels Christiansen, the toymaker’s chief executive, warned that this would lead to fewer jobs and ‘drain quite a lot of capital out of companies’.

‘There’s a high risk it would impact society pretty hard in the long run – less job creation, less tax generated from companies, less competitiveness for a broad range of Danish companies,’ Christiansen told the Financial Times.

The Chairman of shipping giant Maersk, Robert Uggla, has already said this would be ‘harmful to Denmark’, arguing: ‘This type of redistribution policy risks negatively affecting Danish companies’ access to capital.’

Kim Fausing, chief executive of technology company Danfoss, said: ‘It’s a fundamental problem of again driving Europe and Denmark in the wrong direction.’

In the UK, the Green Party is proposing an annual tax of 1pc on assets above £10m and 2pc on assets above £1bn, with politicians on the Left of the Labour Party also supporting the plan.