Proposal for a wealth tax

Motion Text

That this House welcomes the proposal from leading tax experts for the introduction of an annual wealth tax of 2% on individual assets over £10 million, which could raise an estimated £24 billion each year; believes that such a measure would represent a fairer alternative to cuts and could provide urgently needed resources to tackle the poverty and inequality that blights our society; and calls on the Government to bring forward proposals for such a tax on extreme wealth ahead of the next Budget.