The parties revealed their manifestos this week. Taxes on the super-rich featured in many – showing growing support for our ideas.
The Greens promised a 1% wealth tax on those who own over £10 million of assets. It is very similar to the wealth tax we want to see introduced. This would help support a big round of investment in the NHS and public services. They are listening The Liberal Democrats have promised to tax income from wealth in a similar way to income from work – by reforming Capital Gains Tax (CGT). This is something we’ve long called for. It would put the taxation of income from selling shares, investment properties and other assets more in-line with income from work. It would make our tax system fairer. And mean people like Rishi Sunak – who paid the same rate of tax last year as a teacher – would pay more tax. Labour, meanwhile, doubled-down on their commitment to abolish non-dom status in their manifesto. It’s so encouraging to see many of our wealth tax policies picked up by these parties. We’re all over the media These manifesto announcements have sparked a media debate on wealth taxes. Rachael and I have had a busy week in TV and radio studios. On Tuesday our executive director Robert was on LBC with Tom Swarbrick making the case for raising capital gains tax. On Wednesday he was on TalkTV with Ian Collins arguing for higher taxes on the richest to fund better public services. And he spoke to Jim Diamond on LBC News later that day, discussing the Greens’ wealth tax proposal. Rachael spoke to Nick Ferrari on LBC last Friday and made the case for taxing the super rich more – and was on Shelagh Foggerty. We simply haven’t had this level of public debate over wealth taxes in an election period ever before. Our campaigning over the past five years has made this possible. It gives me hope that things can change. Thank you for all your help and support. We need to keep pushing Although our wealth tax message is front and centre in many of the smaller parties’ manifestos, it is less so for the larger parties. Labour does have some progressive tax policies – such as asking private schools to pay VAT and abolishing non-dom status – but they need to go much further. If Labour wins the election, they will face a reality check in government: the country is falling apart and desperately needs investment in the NHS, dentistry and local councils. The scale of planned investment in public services will need to dramatically increase. We will keep pushing them after the election to make taxes on wealth a priority. The Conservatives meanwhile, unfortunately, have their heads in the sand when it comes to tax. They are proposing tax cuts – at a time when our public services are falling apart. This is the stuff of dreamland – as I said on TalkTV. Comments are closed.
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