And third you make clear you’ll collect what is owed but not paid. This is getting this debate back to the tax gap, but with a twist. To be fully understood tax not paid is not just that illicitly unpaid, however important that is. It is also potential tax bases not charged, like wealth, financial transactions and land value.
And tax unpaid is also tax given away in allowances and reliefs, like the £50 billion spent subsidising the savings of UK pensioners annually. Or the £2.8 billion spent subsidising ISA savings. And the £28 billion annual cost of wholly exempting the capital gains in homes from tax.
Pointing out these issues is what will, in my opinion, inspire interest in the tax revenue cycle because once they are understood then the answer to the ‘How are you going to pay for it?’ Question has to be more than a shrug of the shoulders and a ‘We can’t afford it’ because with the right data people will know that’s a choice and not a reality.
I am going to work on this.
That really is insisting that everything, but everything, should be taxed, isn’t it?