Funds could insulate all draughty homes, fund free bus travel, and retrain millions of workers for a green future
A TEMPORARY tax on the super-rich could generate enough money to fix every poorly insulated home, fund free bus travel and retrain three million workers in green industries, Greenpeace revealed today.
A new report commissioned by the climate group proposes introducing an annual 2.5 per cent tax on all individual wealth above £10 million over the next five years.
This “national renewal tax” would impact less than 75,000 people — 0.1 per cent of the population — and raise up to £183 billion for the Treasury.
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An analysis by Oxfam found that the richest 1 per cent emit as much carbon as two-thirds of all humanity.
Greenpeace UK’s climate campaigner Georgia Whitaker said: “The oversized carbon footprint of the super-rich is a clear rationale for ensuring that they play an oversized role in fixing the crisis that they have an oversized role in creating.
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Patriotic Millionaires member Julia Davies, who wrote the report’s foreword, said: “This report highlights that a small, temporary tax on our wealth could transform the lives of millions, while tackling the greatest threat humanity has ever faced — the climate crisis — all while investing in a strong forward-facing economy with quality stable jobs for the British people.”