There needs to be a wealth tax in the upcoming UK budget

The tax system there is unfair and unbalanced. Wealth in the UK is concentrated in the hands of roughly 20,000 people while millions cannot afford to live. A 1% tax on assets over £10 million will not even be noticed, but it will make a huge difference to the public coffers.

And on that topic, energy bills. Why is there VAT on them? It's cold in the UK now and so many people this winter will have to choose between heating and eating, while paying an extra 5% on energy bills that they're already struggling to pay.

How does that make sense, especially if you take flying. No VAT on flights. So we have a necessity that has VAT and a luxury that doesn't. Half of those in the UK don't fly, and approximately 10% of those that do take approximately half of all flights. Holidays are luxuries. Energy is not.

Fix the tax system.

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Londonguy23 · 51-55, M

I agree that the wealth is disproportionately distributed. I studied for years and earn very well and built a few businesses. I work 70 to 100 hours a week combined. I get paid well but if one calculates my daily pay per hour, it fairly miniscule. I worked as a consultant as well and i have to pay National insurance and PAYE etc. My take home is less 40% of my income and as a result, it doesnt make sense now to work those hours. So im cutting back. May as well enjoy life i guess. All this means is less tax for the govt. Most of my peers have adopted a similar approach.
Wealthy people put their income and assets in complex structures and will never pay as us common people. HmRC have no chance of . Taxing those assets, if you can even agree on a value will be time consuming. Shares in a private company of house value is subjective more an art and not a science.
Maybe the ultra wealthy should get get tax breaks for donations to charities. That may help redistribute the income. They will just move overseas for 180 days and not be taxed! HMRC be smart not greedy. A small amount from everyobe is better than 1 large tax from a small number.
Ive been on the receiving end of the job seekers. They agree to interviews to get the allowance but never arrive. They are taking the hard earned tax money of others.
No government is capable or resolving it all. But start with the basics.
1. Make benefits criteria more stringent and valid and regular and invest in the teams
2. Subsidise doctors, nurses and teachers training so we increase our basic services. They can repay by signing up to a contract of services
3. We need immigrants because we have a country of old people and need the jobs filled abmnd tax from the income. Also it increases our diversity pool. This is the only way to fill the gaps until we achieve a reasonable talent pool which will take at least 10 years to achieve if not longer.