Should the UK tax wealth not work for assets over 10 million in value and reduce tax on income?

Campaigners including Tax Justice UK propose an annual wealth tax of around 2% on net assets above £10 million, which would affect roughly 0.4% of the population and could raise up to £24 billion a year. This comes amid stagnant economic growth of 0.1% and discussions of further tax rises, with Andy Burnham recently refusing to rule out a wealth tax. The UK currently taxes earned income, capital gains and inheritance but has no annual levy on total net wealth.