Claim the Future

in the fifth year of operation. Capital gains are just repackaged
income. The income share of the top 1% has grown twice as
fast as previously thought since 1996–7 when capital gains are
taken into account.
Fourth, raising Income tax on the highest earners by restoring
a 45p additional rate from £80,000 and 50p top rate from
£125,000 would raise some £5.4 billion, taking into account
behavioural response.
And fifth, launching a blitz on tax avoidance including
action such as introducing a public register of trusts, greater
transparency in the Crown Dependencies and Overseas
Territories, replacing the governent’s ineffectual General Anti-
Avoidance Rule, clamping down on enablers of avoidance and
evasion, an increase in targeted audits by HMRC, scrapping
non-dom status, public country-by-country reporting in the UK,
fair taxation of trusts, as well as an Overseas Loan Transparency
Act to close loopholes. To support international tax justice we
must mobilise a mass direct action tax justice movement on the
model of UK Uncut.
A Reset Programme
for Finance
In the finance sector, central bank and government
interventions have gone some way to protect the stock market
with some hedge funds even profiting massively from successful
bets on the economy. Now is the time to secure robust reform
to both regulate and harness finance to resource investment in a
sustainable economy agenda.
Against a backdrop of sustained volatility the timing is right
for the introduction of a small levy applied to a wider limited
select group of trades to stabilise financial trading and provide
additional revenue.
35
Financial
System