- Academics propose a two per cent wealth tax on households with over £100m in assets, estimated to raise £10 billion annually.
- The proposed tax would affect fewer than 1,000 of the UK's wealthiest households and aims to reduce runaway inequality .
- Andy Burnham has hinted at tax reforms and declined to rule out a wealth tax, suggesting his government might "ask for a little more".
- The report, by Gabriel Zucman and Ben Tippet, suggests the tax would cover various assets including property , private businesses, and art to prevent avoidance.
- The authors argue this targeted approach differs from past unsuccessful wealth taxes by focusing on the extremely wealthy with strong administrative enforcement.
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