Implement a 2% wealth tax on individuals with net assets exceeding £10 million

Summary

Create an asset register and apply a 2% annual tax on individuals with net assets over £10 million. Introduce safeguards, like an exit tax to prevent assets being moved offshore. We think these measures, particularly for real estate, would help ensure the policy is fair and effective. The government should refrain from taxing income earned through work. We believe people across all income levels are struggling, from those on minimum wage to higher earners. We believe wealth held in static assets contributes little to economic growth and can widen the wealth gap. In our view, a targeted wealth tax offers a fair and effective solution.

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