Tax and Social Security

Public Support for Taxing Wealth

Commenting on polling carried out by YouGov for Tax Justice UK and Oxfam GB, showing widespread public support from across the political spectrum for increasing taxes on wealth, Dr Wanda Wyporska, Executive Director, The Equality Trust said:

"It's clear that the public are in favour of taxing wealth, as they see the reality of inequality day in, day out. As Equality Trust analysis in our Wealth Tracker found, the top 1,000 on the Sunday Times Rich List have increased their income by £253 billion over the past five years. 

A Nation of Ferraris and Foodbanks - UK Rich Increase Wealth by £253 Billion Over Five Years

Analysis by The Equality Trust can, today, reveal that the richest 1,000 people in the UK have:

  • Increased their wealth by £47.8 billion in the past year alone (2018 - 2019) [1]
  • Increased their wealth by £253 billion in the past five years (2014 - 2019) [2]
  • Increased their total wealth to the staggering sum of £771.3  billion, which is significantly more than the poorest 40% of households combined on £567 billion. [3]

Equality Trust Response to IPPR Commission on Economic Justice

The Equality Trust has responded to the IPPR's report on economic justice, published today. The report noted the UK's high levels of inequality and called for fairer taxation and redistribution of wealth. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:

"As this report shows the UK is one of the most unequal countries outside of the developing world. The majority of people are benefiting very little from an economic system that has perpetuated the grotesque levels of inequality damaging our society.