In December, Guido pointed out Richard Burgon had fallen victim to continually double counting when opining how to solve all of society’s problems. According to Richard, a top 10% wealth tax would raise £69 billion, which he would spend on, amongst other things: creating a ‘Social Emergency Fund’, ending the cost of living crisis, end people going cold, end hunger, cost future vaccine rollouts, pay for 150 new hospitals, eradicate homelessness, give nurses a “proper pay rise”, increase Universal Credit by £20 and invest in social care. Among other things…
It now seems it’s not just Guido poo-pooing this Burgon’s one-stop fiscal magic wand. Fellow lefty loon Howard Beckett, of Unite fame, yesterday tweeted that taxing the wealth of the UK’s billionaires at 3% would raise almost £60 billion – just £9 billion less than Burgon’s 10% wealth raid.
There are 171 billionaires in the UK with a total wealth of £560bl. Taxing their wealth over £10ml at just 3% would raise almost £60bl.
— Howard Beckett (@BeckettUnite) March 24, 2022
Stop the tax increases on workers. Tax the billionaires.
Aside from all this being based on the presumption that billionaires will just stay and fill in their HMRC returns, rather than sail off to Monaco aboard their yachts, that’s a huge difference. Guido won’t labour the discrepancy too much, though perhaps they should get Diane to have a look over their fag packet calculations…
