Commons Sense

House of Commons · Ministers' Questions

Wealth Tax: Potential Merits

Tuesday 8 April 2025 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 1 Not answered 0

Key points

  • Government has implemented reforms to make the tax system fairer, including increasing capital gains tax, air passenger duty for private jets, and stamp duty on additional homes.
  • The Government argues that recent Budget measures include increases in revenue spending across all Departments and capital investment to ensure future growth.
  • Historical austerity measures are denied by the Government, which claims the current Budget adheres to fiscal rules preventing fiscal irresponsibility.

Topics (select to filter)

Questions & Answers

Q1 Neil Duncan-Jordan Lab Poole
Taxation
Context

Analysis from disability groups shows that the 'Pathways to Work' Green Paper will negatively impact more than 3 million people, while Oxfam's polling indicates that 77% of the public prefer increased taxes on the wealthiest rather than cuts to benefits for the poorest.

Question

Given the detrimental effects of the 'Pathways to Work' Green Paper and Oxfam’s poll results indicating public preference for increasing taxes on the richest rather than cutting welfare, should we not consider raising funds from those with the broadest shoulders?

Answer from The Exchequer Secretary to the Treasury (James Murray)

As I mentioned earlier, the Government have already implemented changes to make the tax system fairer and ensure that the wealthiest pay their fair share. These reforms include increasing capital gains tax, air passenger duty for private jets, and stamp duty on second or additional homes. We believe these measures address the need for a more equitable distribution of taxes.

Partly answered

Not addressed: Neil Duncan-Jordan's specific ask about introducing a wealth tax was not directly addressed; instead, existing reforms were highlighted as sufficient to ensure fairness in taxation.

How: Highlighting Existing Reforms, Not Addressing The New Wealth Tax Proposal

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Q2 Brian Leishman Lab Alloa and Grangemouth
Taxation
Context

For over a decade, austerity measures have eroded community support; the global pandemic exacerbated inequality; ongoing cost-of-living crises continue to impoverish ordinary people. Public sentiment now strongly favors an annual wealth tax targeting only the richest individuals rather than cutting benefits for those in need.

Question

Given historical austerity measures, the exacerbation of inequality during the pandemic, and current cost-of-living crises, should we not consider a Government willing to introduce an annual wealth tax on the very wealthiest in society to improve living standards?

Answer from The Exchequer Secretary to the Treasury (James Murray)

If my hon. Friend thinks we are imposing austerity, he has not read the Budget carefully enough. It includes increases in revenue spending across all Departments and capital investment to ensure future building while adhering to fiscal rules. These rules prevent the fiscal irresponsibility seen under previous governments.

Not addressed: Brian Leishman's specific ask about introducing an annual wealth tax was not addressed; instead, current spending increases and adherence to fiscal rules were highlighted as sufficient measures against austerity.

How: Changing Subject, Highlighting Existing Reforms

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