Green Party Calls For a Wealth Tax

24 July 2014

THE Green Party, the only party committed to progressive policies that tackle Britain’s persistent inequality problem head on, is calling for a Wealth Tax on the top 1%, those with assets of more than £3million. 

The Green Party, which is already fighting for a Living Wage for all (1) and fairer company-wide pay ratios, says a tax on wealth would help to ensure that the richest 1% (300,000 people) pay their fair share back to society. 

The richest 1000 people have doubled their wealth in the last five years (2). Meanwhile, the number in poverty has risen (3) and the queues at food banks have lengthened (4). 

Policies that tackle the disparities in income do not necessarily address the problem of excessive wealth. That is why an annual wealth tax which taxes the assets of the wealthiest at a rate of 1% which would raise approximately £21billion is needed. 

Natalie Bennett, Leader of the Green Party of England and Wales, revealed the Party’s commitment to a Wealth Tax ahead of the General Election live on LBC’s Duncan Barkes Show. 

Bennett said:

“Our strong General election polling (5) and surge in membership (6) goes to show that the Green Party’s commitment to people over profits policies are really hitting home. The Green Party is prepared to take principled stands and an increasing number of voters recognise and value this. 

“Other political parties are offering business as usual, only minor changes to our failed economic system and policies that are helping the super-rich and making the poor pay for the economic crisis that they did not create.   

“A Wealth Tax is part of the Green Party’s policy programme that will deliver real change for the common good. It is this change that British politics and British society desperately needs.” 

ENDS 

For more information please contact press@greenparty.org.uk or 07889 809 070 

NOTES: 

1 http://greenparty.org.uk/values/fair-society.html

2 Rich double their wealth in five years: http://www.thesundaytimes.co.uk/sto/news/article1412257.ece

3 http://www.jrf.org.uk/media-centre/poorest-and-youngest-suffer-as-poverty-rises-and-living-standards-tumble-65735

4 Food bank demand up 54% in 2013: http://www.theguardian.com/society/2014/jun/09/food-bank-demand-up-2013-charity-report

5 General election 2015: Greens polling at 8% http://greenparty.org.uk/news/2014/07/18/general-election-2015-green-party-polling-at-8/

6 Green party membership up 23% in the first five months of 2014:  http://greenparty.org.uk/news/2014/06/09/green-party-national-membership-up-23-in-the-first-five-months-of-2014/