Taxing the wealth of UK’s richest would raise billions for public services | Letters
Every year, Forbes publishes its list of billionaires, shining a light on the extraordinary levels of wealth concentrated in the hands of just a few thousand people (Taylor Swift among 141 new billionaires in ‘amazing year for rich people’, 2 April). This level of wealth is unlike anything we’ve ever seen before.
The world is lurching from crisis to crisis. There is an urgent need to decarbonise and an imperative to improve public services and healthcare both here in the UK and globally. Taxes on wealth are a vital tool to raise revenue to invest in health services and tackle climate change, but also reduce inequality.
In the UK, a wealth tax on the very richest could raise up to £22bn a year. This would pay for the salaries of 276,000 nurses and double dental funding in England, with change to spare.
Reforming the tax system is the smart solution to meet the challenges of the day. Both parties must open their eyes to the sensible choices to breathe life back into Britain. Maybe then we can have an amazing year for everyone, not just the wealthiest.
Robert Palmer
Executive director, Tax Justice UK
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