Starmer and Reeves should prepare UK for wealth tax, say top economists | Economics

Keir Starmer and Rachel Reeves were invited to use the autumn budget to prepare the UK for a new reserve tax promotion to enter the “extreme” level of inequality by a group of world leading economists.

The government’s economist group, including the government’s French Uncertainty Expert Thomas Pihetty, under the pressure of upgrading taxes, said that the British Prime Minister could increase the UK as a progressive leader on the world stage while he could increase “tens of billions of pounds”.

In a letter shared with Guardian, experts warned that he has concentrated less and less at the expense of the nation in recent years.

Rachel Reeves, a chancellor, faces print pressure from high -level labor figures and unions to increase taxes on leaving to meet a lack of billions of pounds in public finances.

“Keir Starmer and Rachel Reeves can create a suitable tax system for the 21st century-this, supporting justice, first-class public services and good living standards for everyone,” he wrote.

“Millions of people cannot allow the deepening of the inequality of extreme reserve while making love for a fundamental quality of life. A progressive separation tax is a critical step forward and is a step that we encourage the British government to take.”

Among the signatures of the letter are the leading Indian Development Economist Jayati Ghosh, former Colombia Finance Minister José Antonio Ocampo, and Ex-Ex-Excretary for economic and social affairs, and globally acclaimed Economist Ha-Joon Chang.

More than two dozens of signatures, a clear “modest leytün tax on assets over 10 million pounds can increase“ tremendous money ”that can be used to avoid going back to the bitch while fighting widespread inequality.

Although Reeves rejected the public to ignore the measure, it is reported that he is ready to withdraw the demands of labor in order to impose a new tax on the reserve. Former party leader Neil Kinnock is among the lawyers.

Many of his cabinet colleagues poured cold water to this idea, including Business Secretary Jonathan Reynolds, who condemned a new tax as a “Daft” idea that would not work last week.

It is believed that the Treasury’s tax system will prefer to use the current characteristics of the tax system, including capital gains, heritage and pensions.

The Institute of Financial Research can deterd the investment of a special new tax to the UK and “Weak the resources and use of wealth instead of taxation appropriately”In other ways.

He said that it would be difficult to apply a reserve tax, that it would require a new administrative device to value assets, which would be open to rich, well -recommended individuals who are changing around their assets to play the system. Critics also say that super -rich individuals can leave England.

In some European countries, including Spain, Norway and Switzerland, other leading countries, including independent reserve taxes-Austria, Denmark and Germany, abandoned them.

However, the leading economists called on the difficulties related to the design and management of a new heat tax and called on the British government to start a consultation in the autumn budget.

“Starting from the autumn budget, parts of the puzzle can be collected from the consultation to allow the government to offer a reserve tax in this parliament.

The Campaign Group, which coordinates the letter, estimated that 1-2% 2% 2% reserve tax for assets over £ 10 million would affect only 0.04% of the population and may increase 22 billion pounds for Exchequer for a year.

Ghosh, who supports the call for a reserve tax in the UK, said, “A clear reserve tax is not a vital step to cope with inequality and to improve living standards, but also in the best international cooperation.

“Keir Starmer and Rachel Reeves can position England as a progressive leader on the world stage. We call on the international community to cooperate with the international community to ensure that the super -rich pay their fair shares wherever they reside.”

A treasure spokesman said Reeves focused on growing the economy to strengthen public finances.

Söz We are determined to keep taxes as low as possible for employees, so we have protected the salaries of the employees in the budget of autumn and kept our promise not to raise basic, higher or additional income tax rates, employee national insurance or VAT rates, ”he said.