Introduce a 2% wealth tax on people who own assets of £10 million or more

Background

Introduce a 2% levy on individuals who own assets worth more than £10 million – it would affect 0.04% of the UK population and would raise £24 billion a year.

Additional details

The UK is home to an extraordinary number of billionaires – their wealth has increased twelvefold in thirty years. While the world’s ten richest men recently doubled their fortunes in the space of two years. Foodbank use is up nearly ten fold since 2012. The gap between those at the top of the wealth scale and those at the bottom is widening, with women and minority groups especially affected. This would save having to make cuts elsewhere and help redistribute wealth to put money in working British people's pockets.