World’s billionaires should pay minimum 2% wealth tax, say G20 ministers theguardian.com/inequality/202…

HMRC needs more resources.

Not only to chase people who deliberately dodge tax – but also to help those who are trying to pay the correct amount of tax.

'HMRC’s struggles pose ‘a threat to tax compliance’'

ft.com/content/7814c8…

Whilst our public services crumble, Rishi Sunak pays a 23% tax rate on his £2,200,000 income.

If we tax wealth, we could pay for the high-quality public services we need.

🚨 The finance ministers of Germany, Brazil, Spain and South Africa have just come out in favour of:

– A 2% wealth tax on global billionaires.
– To raise $250bn annually.
– It would apply to just 3,000 people.

theguardian.com/inequality/202…

Fairness Foundation 'Inherited wealth on course to be a much more important determinant of lifetime resources for today’s young than it was for previous generations' ifs.org.uk/articles/inher…

Some fascinating findings in new research by Fairness Foundation.

They asked people whether luck or hard work had more bearing on success in life.

Most people said hard work. And underplayed the role of luck.

Interesting way of visualising how little revenue we actually get from taxes on wealth.

🚨📰3/3

You can read our new report with Tax Justice UK and all its findings in full here:

ukanticorruptioncoalition.org/work/beneficia…

#TaxEvasion , #EconomicCrime , #DirtyMoney , #UKPolitics

🎞️2/3

Why are these public registers important?

Well, providing safe havens for dirty money makes people and societies all over the world poorer, as Rachael Henry explains.

🚨📰🎞️🧵 1/3 NEW REPORT!

Today we release a new report with Tax Justice UK reviewing how Britain’s Crown Dependencies and Overseas Territories have fared in setting up public registers of beneficial ownership.

Progress is “painfully slow”: Rachael Henry

ukanticorruptioncoalition.org/work/beneficia…

Great announcement from Rachel Reeves on tax avoidance today - HMRC has been crying out for more money to chase tax dodgers for too long.

More from me below on Talk:

Very well said Patriotic Millionaires UK

For too long, Rishi Sunak has allowed tax dodgers to avoid paying what they owe while our NHS crumbles.

My Labour government, with Rachel Reeves as Chancellor, won't stand for it.

We will take on the tax dodgers to fund our NHS.

On the back of the Labour Party's announcement that they will recruit & train 5,000 new tax compliance staff in the UK... a short piece on why well resourced tax authorities are crucial to both tax justice and private sector productivity improvements fairtaxmark.net/taxgap/

A much needed policy from The Labour Party to clamp down on tax avoidance- an issue Rishi Sunak has simply failed to deal with. And very good news that additional taxes raised from this will be put into our NHS and schools. 👏🏾👏🏾

Labour has announced plans to crack down on tax dodging by giving HMRC more resources, and make sure backdoors in the government's new non-dom rules are closed down. Here's what our Head of Advocacy and Policy, Rachael Henry, has to say ⬇️

A positive & welcome step from The Labour Party in the fight for a fairer tax system. Let's hope the first of many that ensures there are higher taxes on the very richest theguardian.com/business/2024/…

My quote in The Mirror front page story tomorrow re Rachel Reeves plan to crackdown on tax abuse. A sensible plan to ensure vital revenues reach the NHS. I hope this signals genuine ambition from Labour to close loopholes and make our tax system fairer

An important step toward securing tax fairness & rebuilding our public services.⁦

⁦Rachel Reeves⁩ sets out plans to launch £5bn crackdown on tax avoiders. theguardian.com/business/2024/…

Great to see a sensible plan from ⁦The Labour Party⁩ on tax abuse. HMRC don’t currently have the resources to answer the phone let alone act as a genuine deterrent. It’s long been time to crack down on tax dodgers and close unfair loopholes theguardian.com/business/2024/…