Labour must tax wealthy, not cut vital services
The UK Government’s Spring Statement will be a test of Labour's morals, says Scottish Greens co-leader Lorna Slater MSP.
Ms Slater has urged the party to tax the super-rich with wealth taxes to boost our green industries, undo the cruel cuts that have been inflicted and build a fairer society for people and planet.
According to research from the Tax Justice Network, a 1% annual wealth tax on net assets over £10 million could raise almost £10 billion a year while only impacting the richest 0.4% of the population.
Polling from Oxfam shows that two-thirds of Scots back increasing taxes for the rich, which would raise far more money than any ‘savings’ made through cuts.
Ms Slater said:
“The assault on social security and public services is not inevitable. It is a political choice.
“Labour is choosing to punch downwards and punish the most vulnerable rather than taxing the super-rich who have seen their incomes soaring while millions of people have been unable to make ends meet
“This is one of the wealthiest societies there has ever been, but so much of that wealth is being hoarded by a small number of very rich people and corporations.
“By properly taxing wealth, we can do far more to tackle poverty, improve healthcare, invest in public services and create better, happier and healthier communities.”
Ms Slater added:
“Labour promised change, but it was one of the most dishonest election campaigns in history.
"You can’t undo the catastrophic impact of 14 years of Tory rule with even more cuts.
“Every Labour MP faces a moral test. Will they back wealth taxes on the super rich, or will they back plans which they know will plunge even more of their constituents into poverty?”