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UK billionaire wealth has more than doubled since 2010. Workers’ wages have barely risen since 2008. On Newsnight, I called for a tax on extreme wealth - that's the fairer alternative to cuts we need.

132,941 views • 1 year ago •via X (Twitter)

10 Comments

Andrew Hart's profile picture
Andrew Hart1 year ago

I've asked you many times - how would a wealth tax work in a scenario like this? If a tech entrepreneur starts a company He has a salary of £100,000 The business grows rapidly, is still loss making but at a third round of capital raising is valued at £50m The founder has a 50% stake - worth on paper £25m You want to tax him 2% on £15m (2% >£10m) - where does he get this £300,000 annually from to settle his tax bill? IF your answer is "sell more equity" - then he gets to a point very quickly where he no longer controls the company he started. Nobody will start companies in the UK under these conditions It's an economically illiterate policy that has never ever worked in the few places that have tried

Happy Hussar ll's profile picture
Happy Hussar ll1 year ago

Oh fuck off you ridiculous, political retard!!

Farrukh's profile picture
Farrukh1 year ago

Good interview last night 👏 I'm still shocked that Labour have chosen not to apply a wealth tax, but have sought to go after pensioners, the poor and the disabled I don't know what's gone wrong with Labour, but glad that within Labour there are still some sensible voices

Aaron's profile picture
Aaron1 year ago

Deport foreigners reliant on welfare and save £15bn a year instantly.

🇬🇧_Lee Wardle_🏴󠁧󠁢󠁥󠁮󠁧󠁿's profile picture
🇬🇧_Lee Wardle_🏴󠁧󠁢󠁥󠁮󠁧󠁿1 year ago

The question is, does a government that cannot function without raiding other people's finances amount to a failed state.

tracey uk's profile picture
tracey uk1 year ago

All the rich have left the uk soon it be tax strike then civil war be coming british people who pay your wages had enough of your lies after lies every mp apart from rupert Lowe needs sacking your replace us nomore

Dennis Carney's profile picture
Dennis Carney1 year ago

Never before has so much tax been taken, for so little in return. How about some accountability for spending that tax money?

Kim Johnson's profile picture
Kim Johnson1 year ago

Also stop your foreign secretary giving millions to rich countries I’m sure the UK needs 70 million pounds more than Singapore does

onemorecomma's profile picture
onemorecomma1 year ago

Workers wages haven’t risen due to horrific government policy. GDP basically stagnated over the same period. And your solution is… more government intervention, tax and control?

Steven C's profile picture
Steven C1 year ago

how many afghans will that buy you ?

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