Wealth tax on super-rich could raise £1.5tn globally, campaigners say

The study excluded some exemptions in the Spanish tax – including a clause on high-value assets like boats and aircraft – and said $31bn a year could be raised in the UK alone. Photograph: Valéry Hache/AFP/Getty Images

Governments around the world copying Spain’s wealth tax on the super-rich could raise more than $2tn (£1.5tn), according to campaigners calling for the money to help finance the climate transition.

As a growing numbers of countries consider raising taxes on the ultra-wealthy, the Tax Justice Network campaign group said in a report that evidence from a “featherlight” tax on the 0.5% richest households in Spain could help raise trillions of dollars globally each year.