On Politics Live today I made the case for taxing wealth as an option that must be on the table if we want to avoid spending cuts – which are not an economic necessity.

Watch the video here.

I refered to research by Tax Justice UK which sets out 5 taxes the Government could implement which would raise £37 billion:

  1. Equalize capital gains with income tax rates, raising up to £14 billion a year
  2. ​Apply national insurance to investment income, raising up to £8.6 billion a year
  3. Apply a 1% wealth tax on assets over £10 million, raising up to £10 billion a year
  4. End the inheritance tax loopholes that benefit the already wealthy, raising up to £1.4 billion a year.
  5. Reform the rules on non-dom status, raising up to £3.2 billion a year

Read Tax Justice UK’s analysis here.

BBC Politics Live panel
BBC Politics Live panel
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