"At a time when people are "really struggling" it was right to focus on the "super wealthy". "Whatever you're going to create from a wealth tax, it's ultimately about reducing inequality. "This isn't about creating public investment, we can do that anyway, we don't need to tax the wealthy to do that. This is ultimately about tackling the deep inequality in our society.""
""We need to tax unearned wealth as much as we tax earned income," he added. "Once we start to move to a better footing as a society, where we have better public infrastructure and services, then I think it is legitimate to say paying tax is something that's actually patriotic, we should be proud of contributing to this country, to makin"
The Green Party proposed an annual wealth tax of 1% on assets above £10m and 2% on assets above £1bn aimed at reducing wealth concentration and deep societal inequality. Party leadership suggested the measure could raise between £15bn and £25bn a year. Critics warned the tax could penalise savings and investment and encourage wealthy individuals to leave the country. The proposal prioritises taxing unearned wealth and aligns capital gains taxation with income tax. The focus remains on taxing the wealthiest first, with the view that stronger public services will later normalise and dignify broader tax contributions.
Read at www.bbc.com
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