Skip to main content

Introducing a Wealth Tax

EDM (Early Day Motion) 420: tabled on 10 September 2021

Tabled in the 2021-22 session.

This motion has been signed by 24 Members. It has not yet had any amendments submitted.

Motion text

That this House notes that almost a quarter of all household wealth in the UK is held by the richest one per cent. of the population; further notes that the wealth of UK billionaires increased by £106 billion since the start of the pandemic; believes that it is unjust that taxes on work are much greater than taxes on wealth; rejects the remarks by the Chancellor who stated in July 2020 that I do not believe that now is the time, or ever would be the time, for a wealth tax; notes that there are growing calls for wealth taxes both in the UK and around the world with United Nations Secretary-General Antonio Guterres calling for governments to introduce wealth taxes to help reduce global inequality exacerbated by the covid-19 pandemic; notes that the UK Wealth Commission, made up of a team of over 50 experts on tax policy, concluded in their December 2020 report that a wealth tax would be preferential to raising taxes on incomes; and calls on the Government to introduce a wealth tax as a progressive alternative to raising taxes on working people.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

In addition to the sponsors, the following Members have signed to support the motion.

There are no withdrawn signatures for this motion.