Speaking at the protest, political campaigner Peter Tatchell proposed a one-off 20pc emergency tax on the net wealth of the richest 10pc of the UK population, as well as the introduction of a \”Tobin Tax\” on financial transactions.
\”The richest 10pc of the UK population have a combined personal wealth of £4 million, million. A one-off 20pc tax on those people would raise £800 billion,\” he said.
To raise the money you\’ve actually got to sell that wealth. Either the taxpayer has to or the government has to.
And what\’s going to happen to prices when you try and liquidate 10% (which is roughly what £800 billion is) of the wealth of the entire nation?
After all, you can\’t ask any of the rich to buy any of it, by definition, all of the rich are sellers.
It would also be interesting to see how many rich people the country had left the day after you announced this: we\’re not actually allowed to stop them from leaving the country you know.