Tax the rich more to fill black hole in public finances, Labour members tell Starmer. Keir Starmer is under growing pressure to introduce a wealth tax to fill a black hole in public finances, after new polling shows almost all Labour members back the move.
by bottish
31 comments
The poor haven’t got anything left to tax, you’ve run out of things to cut that won’t just destablise the economy, and you’re running out of Middle to tax. The rich are all you’ve got left to squeeze. And I have to be clear here when I say “rich” I don’t mean doctors and lawyers, or really anyone who works primarily for a salary, even if it’s a very large one. I’m talking about the people whose primary income is “Owning Shit”.
Reversing the cuts to the tax office that the lib dems & conservatives introduced would help them deal with the large tax evaders
I think the ideas being promoted by the likes of Gary’s Economics have broke through into mainstream and it’s difficult to argue against him.
You can tell it’s gaining traction when all the “rich folks will leave the country” rhetoric comes out and random “nobody” experts from the rich-as-fuck think tanks start appearing on the news.
Well in a democracy, the majority wins.
Last I checked the majority of folk are not in the higher income brackets, own stock or could even be confused for being wealthy.
So tax the minority and if they don’t like it, we poors can do their jobs and happily pay the tax.
I want to live in a country that has some balls to make tough decisions. That also means living in a country where the people are willing to accept the government has to make tough choices and support them for it.
Unfortunately every country I see is full of people who understand their government has to make tough choices but the moment the government does that, the people have a total meltdown down and demand they stop doing it.
I’ve pretty much lost hope in humanity and am fairly certain we’re a dumb species that just happens to have a few geniuses that do all the heavy lifting, making the rest of us think we’re a special species.
The future looks grim as fuck and it could all be avoided if the people acted with a small degree of selflessness. But we can’t even fucking manage that.
Well enjoy all these far right fuckwads destroying us all you idiots.
Starmer prefers the opinions of think tanks and right wing journalists. He will listen to them more than Labour Party members or voters.
Increase the taxes of the rich and they’ll just move to a more tax efficient country.
Tax the rich…..one week later they move to their villa in Monte Carlo and you get nothing. Here’s why it wont work [Why the rich paid less tax in the 1970s – despite 98% tax rates](https://taxpolicy.org.uk/2025/05/08/tax-rich-1970s-loopholes/)
Close the tax loopholes, any multinational company that doesn’t make a profit in the UK should be taxed on global revenue, if they don’t like it, they can stop operating in the UK and local companies can fill any void.
Match capital gains to income tax bands.
Tax private residential landlords out of existence over a period of, say, 10 years. Borrow to purchase the properties and let them as social lets at a reasonable rent.
Incentivise investment in social housing with preferential bonds and tax breaks.
Addressing the housing affordability crisis would have a significant impact upon poverty, living standards and overall wellbeing.
Without seeking to attack individual landlords (who are probably all decent people) the residential landlord business is no different to ticket touting or hand sanitizer scalpers during COVID. Buy up a scarce asset and upsell it to people in need.
I read recently that in the 70’s 90% of government housing expenditure was on new build, now 90% is on social security benefits mostly going to private landlords.
The benefit to taxpayers of removing this “scam” would amount to billions annually.
Anyone else feel we’re fast approaching the Marie Antoinette level modern political discourse?
Only fair, considering the majority underpay their staff.
Tax the wealthy, close tax loopholes, don’t let external companies do significant trade here unless they pay fair taxes on everything sold here.
If you look at how spending, and in particular welfare spending, is projected to grow, the discussions on a wealth tax and how it should be structured and if it will work is pretty much irrelevant. At a best case it solves the issue for about 3 years, in the same raising NIC for 25 billion has for only 6 months. The only thing that is going to change that dynamic is accepting that the welfare state in its current form is unfundable, and fundamentally has to change. It would be better if we could do this before we need the IMF to make us, but that is the direction it’s heading.
It’s a shame the Tories left this £20bn black hole. That’s obviously the reason for this…*checks notes*…£40bn black hole.
Needs to be a tax on assets as the wealthy don’t really have big salaries usually. Something like a land value tax would be perfect.
Instead of cancelling carbon capture, cancelling the overseas aid budget and cutting down the civil service, he would rather tax more. How about, pulling more low paid workers out of tax by raising the tax bands, enabling companies to hire more people, bringing in tax breaks for companies that invest in new technologies and in areas with high unemployment and of course stop paying the billions for hotel accommodation for migrants.
Invest in the UK, encourage UK companies to grow, give people at the lower end of the pay scale money in their pockets instead of dragging more into paying higher taxes. Tax is not the answer to everything. It is the people, the workers, our companies that will drive growth. Taxing more heavily doesn’t do that.
It’s an interesting approach and it’ll be another nail in the coffin for Labour.
Their members didn’t win them the election. It’s voters who’ll invariably move from party to party who ensured they won.
He won’t tax his mates. He’ll just cry about being a toolmakers son – And dab his eyes with corporate cash.
What level of income would be classed as rich?
Amazon
Starbucks
etc Keir you have the 🥎 🎱
Hiw about tax religious organisations imagine Christian and Muslim and Jewish taxes from that
A 1% annual wealth tax on the one million millionaires will close that “black hole” that we apparently have, put a 2% annual wealth tax on billionaires as well. Get rid of non dom status and close the loophole that allows the rich to avoid tax. Start enforcing a corporation tax on companies like Amazon, Starbucks etc. implement a windfall tax on energy companies, centrica made hundreds of millions in profits off their customers, create a windfall tax once a company hits let’s say £500 million. You’re going to make your money back and tax the wealthiest and wealthy companies accordingly
Labour is ideologically against a wealth tax as they are the party of the wealthy and sir class and would rather make the sick and poor pay fill the gap like David Cameron did with austerity were all in this together.
She was crying in parliament the day they were told the poor and sick would not fill the black hole with there wheelchair/school lunch money.
Starmer is the temu trump firmly in the pocket of USA and it’s dependents like Israel.
Freeloaders are not a good class of people to protect – whether poor OR rich.
The moment the government stops pandering to freeloading landlords AND dole bums the sooner the actual workers who ARE the economy will be happier.
Tax the rich, before we eat the rich. The inequality and class divides in this country are a national embarrassment. The housing situation is beyond corrupt. The buildings and roads are crumbling, litter everywhere. Minimum wage is far behind the cost of living. The NHS is at risk. Military is understaffed. School curriculum is out of date. The country is stagnating. Remind us what we’re paying you cunts for again? I’ve not had more than 100 quid in my account, mainly barely keeping afloat from a 250 overdraft, that I never quite pay off since covid, and all you rich cunts want to do is figure out how to give me less. My depression has turned to anger and I am far from alone.
The problem for Kier is he’ll have data and legitimate experts telling him wealth taxes generally lead to a decline in other taxes (such as CGT and VAT) so much that they often lead to a net decrease in tax from the wealthy.
Until Europe and ideally the US etc agree on a minimum wealth tax it’s currently just too easy to move your wealth abroad as most of it’s not held in property. What he should be doing is talking with other countries to get one introduced – France has tried a couple of times, Spain has an ineffective one, so they’d both be good countries to work with to get Europe to adopt one.
Rent seeking behaviour.
Reddit tells me it’s bad when it’s a private landlord.
But it’s good when it’s Daddy government.
They need to tackle two things:
1. Housing costs
2. Energy prices
They are doing fuck all to address either.
For comparison- The UK is losing between £30b-£50b per year by failing to tax the rich. This is the same amount of money that failing to tax around 9.2 million people making £30,000 per year would cost.
Time to land tax baby
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