Tuesday, 7 September 2021
When The Levy Breaks
If the Conservatives find it "painful" to put up taxes, then they must have been in agony whenever they have been in government, as they usually have been. And if there was a Leader of the Opposition in the House of Commons this afternoon, then it was Richard Burgon, with his call for a wealth tax.
There is to be a third income tax, alongside income tax honestly so called, and alongside the work tax that is euphemistically known as National Insurance. Instead of a "health and social care levy", the third income tax ought to be wealth tax, levied at a higher rate on the income, above a higher threshold, that was not subject to work tax.