TAX WEALTH PROPERLY - GIVE WORKERS A PAY RISE

Recent signers:
Sian Hartley and 19 others have signed recently.

The Issue

While millions of people are struggling to make ends meet, it's boom time for the very richest.

Our rigged economy means that the vast wealth in our society is increasingly funnelled into fewer and fewer hands.

A genuinely fair tax system would ensure that those with the broadest shoulders pay the most. Instead, income from wealth is taxed at lower rates than regular income.

We believe it is wrong that the tax paid on profits when selling assets - Capital Gains Tax - is paid at lower rates than people pay on the wages they earn from going out to work day-in, day-out. 

Simply equalising Capital Gains Tax rates with income tax rates would raise £17 billion per year. That could easily fund an inflation-matching pay rise for the nurses, teachers, ambulance drivers and all the public sector workers that the government was happy to clap not long ago.

Ahead of the Budget on March 15, we call on the government to scrap this tax advantage for the richest and to instead tax wealth fairly and use the billions raised to give public sector workers a proper pay rise.

avatar of the starter
Richard Burgon MPPetition StarterLabour MP for East Leeds. Leeds born and bred. Socialist. LUFC supporter. Music enthusiast.

79,890

Recent signers:
Sian Hartley and 19 others have signed recently.

The Issue

While millions of people are struggling to make ends meet, it's boom time for the very richest.

Our rigged economy means that the vast wealth in our society is increasingly funnelled into fewer and fewer hands.

A genuinely fair tax system would ensure that those with the broadest shoulders pay the most. Instead, income from wealth is taxed at lower rates than regular income.

We believe it is wrong that the tax paid on profits when selling assets - Capital Gains Tax - is paid at lower rates than people pay on the wages they earn from going out to work day-in, day-out. 

Simply equalising Capital Gains Tax rates with income tax rates would raise £17 billion per year. That could easily fund an inflation-matching pay rise for the nurses, teachers, ambulance drivers and all the public sector workers that the government was happy to clap not long ago.

Ahead of the Budget on March 15, we call on the government to scrap this tax advantage for the richest and to instead tax wealth fairly and use the billions raised to give public sector workers a proper pay rise.

avatar of the starter
Richard Burgon MPPetition StarterLabour MP for East Leeds. Leeds born and bred. Socialist. LUFC supporter. Music enthusiast.

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Petition created on 14 February 2023