“The gap between the super-rich and everyone else grows by the day.”
A group of millionaires have urged Chancellor Rachel Reeves to increase taxes on the rich, and use the funds raised to “lift kids out of poverty” and invest in rebuilding public services.
Campaign group Patriotic Millionaires, has issued the call ahead of the budget later this month, saying that measures such as reforming capital gains tax and introducing a new wealth tax could raise up to £36 billion annually.
Reeves has previously ruled out a wealth tax, however now a wealthy group of individuals have themselves called for the measure.
The Independent quotes group member Phil White as saying: “It’s time for the wealthiest – people like us – to pay a fairer share, so we can help lift these kids out of poverty and begin rebuilding our public services and communities right across the UK.”
He added: “We all want to live in a society where everyone has a decent shot at life – but at the moment that just isn’t the case.
“The gap between the super-rich and everyone else grows by the day.
“In Scotland, around one in five children live in poverty, while the country’s five richest families own a combined £19.3 billion – more wealth than a quarter of the population put together.”
Patriotic Millionaires is beginning a tour of major cities across the UK with its ‘Tax The Super-Rich’ bus as it bids to take its message across the country.
Basit Mahmood is editor of Left Foot Forward
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