Rishi Sunak earned almost £5m in the past three years, yet this was only taxed at a rate of 22%. Britain's tax system is broken, focusing on income rather than wealth, and it seems like no one plans on doing anything about this.
Shadow chancellor Rachel Reeves has explicitly stated that should Labour come into power, a wealth tax will not be introduced. In this episode, staff writer Harry Lambert sets out how Labour could raise £28billion by adopting a wealth tax, and how this could help narrow the gap between Asset Britain and Austerity Britain.
Read Britain’s great tax con here:
https://www.newstatesman.com/politics/economy/2023/08/britains-great-tax-con
Download the New Statesman app:
iOS: https://apps.apple.com/gb/app/new-statesman-magazine/id610498525
Android: https://play.google.com/store/apps/details?id=com.progressivemediagroup.newstatesman&hl=en_GB&gl=US
Subscribe to the New Statesman from £1 per week:
https://newstatesman.com/podcastoffer
Sign up to our weekly Saturday Read email
https://saturdayread.substack.com/
LISTEN AD-FREE:
📱Download the New Statesman app
MORE FROM THE NEW STATESMAN:
❓ Ask a question – we answer them every Friday
⏰ Get our daily politics newsletter every morning
✍️ Enjoy the best of our writing via email every Saturday
JOIN US:
⭐️ Get full access to all our reporting and analysis with a print + digital subscription
Hosted on Acast. See acast.com/privacy for more information.
