Britain's great tax delusion

Rishi Sunak earned almost £5m in the past three years, yet this was only taxed at a rate of 22%. Britain's tax system is broken, focusing on income rather than wealth, and it seems like no one plans on doing anything about this. Shadow chancellor Rachel Reeves has explicitly stated that should Labour come into power, a wealth tax will not be introduced. In this episode, staff writer Harry Lambert sets out how Labour could raise £28billion by adopting a wealth tax, and how this could help narrow the gap between Asset Britain and Austerity Britain.Read Britain’s great tax con here: https://www.newstatesman.com/politics/economy/2023/08/britains-great-tax-conDownload the New Statesman app:iOS: https://apps.apple.com/gb/app/new-statesman-magazine/id610498525Android: https://play.google.com/store/apps/details?id=com.progressivemediagroup.newstatesman&hl=en_GB&gl=USSubscribe to the New Statesman from £1 per week:https://newstatesman.com/podcastofferSign up to our weekly Saturday Read emailhttps://saturdayread.substack.com/LISTEN AD-FREE:📱Download the New Statesman appMORE FROM THE NEW STATESMAN:❓ Ask a question – we answer them every Friday⏰ Get our daily politics newsletter every morning✍️ Enjoy the best of our writing via email every Saturday Hosted on Acast. See acast.com/privacy for more information.