“The Government has seriously damaged its own support by refusing to tax wealth — all while cutting support for disabled people, targeting the winter fuel allowance, and maintaining the cruel two-child benefit cap.
Richard Burgon MP
The campaign for a Wealth Tax is gaining traction as Richard Burgon MP delivers an 80,000-strong petition to Downing Street and launches a new Parliamentary Motion for a Wealth Tax.
Last week, Richard Burgon MP delivered a petition to 10 Downing Street, signed by over 80,000 people, calling on the Government to introduce a Wealth Tax on the super-rich.
The petition hand-in coincided with the launch of a new Parliamentary Motion tabled by Burgon, backed by an initial group of 20 Labour MPs – and now backed by over 30 MPs. The Motion urges the Labour Government to implement a Wealth Tax in the next Budget.
The petition and motion support the proposal from leading tax experts for an annual Wealth Tax of 2% on assets over £10 million, which could raise an estimated £24 billion each year.
Recent polling shows 75% of the public supports a Wealth Tax at this level.
Ahead of the petition hand-in Richard Burgon MP said:
“The Government has seriously damaged its own support by refusing to tax wealth — all while cutting support for disabled people, targeting the winter fuel allowance, and maintaining the cruel two-child benefit cap.
“Instead of balancing the books on the backs of the most vulnerable, the Government must adopt real Labour policies — starting with a Wealth Tax on the super-rich.
“A fair tax on extreme wealth can help Labour rebuild our public services, tackle poverty, and deliver the change people are crying out for.”
The call for a Wealth Tax is only going to grow in the run-up to the Budget. I urge the Government to get on the right side of public opinion — and put a fair tax on the super-wealthy.”
The call for a Wealth Tax has received growing support in the labour movement, including from former Labour leader Lord Neil Kinnock and five major trade unions — UNISON, Unite, Usdaw, FBU, and NASUWT — who recently told The Telegraph they support the policy and will press for its adoption.
And just this week, Keir Starmer and Rachel Reeves have been urged by a group of the world’s leading economists to implement a Wealth Tax in the autumn budget to tackle “extreme” levels of inequality.
- Richard Burgon is the MP for Leeds East, the Secretary of the Socialist Campaign Group of MPs and a regular contributor to Labour Outlook. You can follow him on Facebook, Twitter, Instagram and TikTok.
- You can sign up for Richard Burgon MP’s campaign for wealth taxes here.
