Could Labour introduce a 2% wealth tax?

As the chancellor puts the final touches to next week’s Spring Statement, there are growing calls for a 2% wealth tax to be introduced. Campaigners say it would tackle economic inequality and raise billions of pounds in revenue

Tax Concept
(Image credit: Nora Carol Photography)

The idea of imposing a 2% wealth tax on the richest people is attracting attention ahead of the government’s Spring Statement next week.

A fleet of mobile billboards commissioned by the campaign group Patriotic Millionaires UK has been touring the country, which suggests the lack of a wealth tax means the UK is missing out on £460 million a week.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.