Taxing wealth makes sense – and Scotland can take the lead

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Taxing wealth makes sense – and Scotland can take the lead
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I’m very much of the opinion that working with someone within a coalition of mutual agreement is better than shunning them because you might…

must be yet another blow to any in the party who don’t want to see them continue to morph into The Capital Party.Wealth taxation is a vital part of ensuring our society remains equal and just. Excessive wealth hoarding is corrosive to the fabric of that society. It divides and distances us from each other. It encourages those with wealth to seek power and influence over our democracy far beyond the power of the single vote they have.

While we do have expensive properties in Scotland, it’s on an entirely different scale from London. Looking at property listings as I write this, if you happen to have a spare £5 million sitting down the back of the couch just now you could buy a four bedroom flat in Mayfair. Or you could buy a 25-bedroom castle in Dornoch, and to buy an entirely separate 17-bedroom castle in Cupar with enough left over for quite the moving-in party.

So my plea goes instead to Scottish parties of any colour who care about a fairer and more equal society. There are two policies we could do right now, within the scope of devolution, to show that Scotland is serious about being a country that works for all of us.The first is to reform council tax. That £2.

The second policy is a land tax. As said, that castle actually comes with a large untaxed estate so a property tax that taxes buildings but not land would allow landowners to continue to store their wealth there. Schemes like Land Value Tax are complex and difficult to estimate but simply extending the property tax to cover land as well would be easy – the market value of the building plus land is right there on the estate agent’s website.

Wealth inequality hurts everyone . If the UK parties are going to support and increase inequality then Scotland must show that we can use the tools we have to make our country fairer, more equal and one that works for all of us, not just those who own far too much of it.

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