Saturday, February 10, 2024

Heterodox macroeconomist and campaigner Richard Murphy has produced a Taxing Wealth 2024 report to show how wealth can be taxed fairly in comparison to wages. His worked example restating Rishi Sunak’s tax bill is bang on.

Rishi Sunak’s tax for 2022/23: a Taxing Wealth Report 2024 case study:

The additional tax owing would be £761,378. This is a tax rate of 57% […] The resulting tax liability is fair. What Rishi Sunak paid in 2022/23 was not and was instead an insult to all people who worked for a living and paid much higher rates of tax than the prime minister.