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Shareholders and investors in these profiteering industries will be laughing all the way to the bank. Because higher stock prices means a big pay day. In fact,\u00a0Goldman<\/a>\u00a0Sachs<\/a>\u00a0and\u00a0Morgan Stanley<\/a>\u00a0are already reporting huge profit surges. And, as if that wasn\u2019t unfair enough, they\u2019ll pay less tax on their windfall, than you will on your stagnant wages. That\u2019s because in the UK, taxes on income from work are higher than taxes on income from wealth (Capital Gains Tax). That\u2019s one of the reasons the rich\u00a0keep getting richer<\/a>, while the rest of us struggle.<\/p>\n And it\u2019s not just the fact that the highest tax rate on capital gains is 24%, whilst the highest rate on work is 45%. Those of us that work for a living also have to pay taxes like NICs, whilst those that collect shareholder returns, don\u2019t. This system means those of us who work or receive social security payments like pensions, often end up paying the same or often even higher than most multimillionaires and billionaires. That\u2019s how former PM Rishi Sunak ended up paying the\u00a0same effective tax rate as a nurse or teacher<\/a>\u00a0in 2023\u2014 despite an income 52x higher.<\/p>\n With your help, we\u2019ve been campaigning to close the loopholes and redress these imbalances, by equalising capital gains tax with income tax (and adding NICs to income from investments). We\u2019ve made some progress, such as seeing CGT rates rise in 2024, but there\u2019s still work to do. Which is why we need the Tax Justice People\u2019s Lobby to keep raising its voice in every corner of the country.<\/p>\n