Carla Denyer, co-leader of the Green Party said: “The claim that wealth taxes would lead to large numbers of people leaving the UK isn’t credible. This didn’t happen when changes were made to non-dom status in 2017, and research by Patriotic Millionaires has shown that 68% of those with over £1 million to invest support a wealth tax themselves. There are lots of reasons that the wealthy choose to live in the UK, including work, family and culture, and many are happy to pay a bit more if it means a happier and healthier society.
Between 2020 and 2022 alone, billionaire wealth in the UK increased by almost £150bn, whilst living standards for the rest of us fell significantly and public services decayed. It’s only through rebalancing our tax system to make it fairer that we can rebalance society, invest in our NHS and other public services, and ultimately increase the quality of life for ordinary Brits”.