Equality Economics

[Robert Palmer @robertnpalmer]

Inheritance tax needs to be defended.

At the same time it's a broken tax with the super-rich paying very little.

This week @TaxJusticeUK set out the case for a reformed approach

https://t.co/ZvMXoZFlZO

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[Prem Sikka @premnsikka]

UK banks fined $222m in last yr.

Puny fines have not curbed frauds, tax dodges, money laundering, mis-selling, high charges, low returns on savings.

Fines are just another of doing business, passed to customers.

Must fine/prosecute directors personally.
https://t.co/o7ZolwHn8L

[Equality Economics @EqualityEconomy]

I say if the private sector is so efficient, why don’t you ever see private schools with fees equivalent to state sector funding.

[Prem Sikka @premnsikka]

Jeremy Hunt wants UK public sector to emulate private sector growth.

Why hold water, railways, energy, banks as models?

Saving life & educating children does not fit crude productivity models - will mean premature discharge of patients, bigger classes.
https://t.co/CrbCoz8wFC

[Trussell @TrussellUK]

Thinking of donating to a food bank, but not sure what to donate?

Here are 8 essential items you can donate to your local food bank! 🥫

Before donating, please check the food bank's website to see what items they need the most 👉 https://t.co/pBeC0T9IRf

[Just Fair - justfairuk.bsky.social @JustFairUK]

UN experts on children’s rights have just made 200 recommendations to the UK on:

📜Legislation and budgeting
🇪🇺 The impact of Brexit
⚖️Socioeconomic disadvantage
🍽️Adequate standard of living
🌍Climate justice
🌈The rights of LGBT+ children

New blog: https://t.co/bGPKcL2Skh

[The Equality Trust @equalitytrust.bsky.social @equalitytrust]

There's widespread agreement that the wealthy aren't paying their fair share — but what else could we do to make our tax system fairer? 🗳️Tell us in this week's poll! 🗳️ https://t.co/gwFip97Mx4

[The Equality Trust @equalitytrust.bsky.social @equalitytrust]

In April, @fairnessfdn polls found 68% of people think the government isn't doing enough to tax the wealthiest – and it's hard to disagree. For Fair Tax Week and every week, we need a fairer system

[Prem Sikka @premnsikka]

@HJMKent We can restrict tax relief on exec pay to say £500k a year.

In line with the "polluter pays" principle those creating social pollution - inequalities, squalor - should be penalised, not rewarded by the state. Hence the call for an Inequality Tax.
https://t.co/yd1WTpt4Tc

[Prem Sikka @premnsikka]

UK Workers' share of GDP is the lowest for 50 yrs.

Real average wage lower than in 2007. 14.4m Brits live in poverty.

Supermarkets, banks, oil/gas making mega profits. Some business profits up by 20,650%.

Govt/Bosses say workers caused inflation.
https://t.co/mHbUJ5ZGc2

[LBC @LBC]

‘You're not paying the tax, you're dead!’

@Lewis_Goodall educates caller Sharon on the inner workings of inheritance tax as she vehemently argues it should be abolished.

[Talk @TalkTV]

"If we scrap this, I really worry that the taxes on the rest of us will go up. It's an appropriate way of asking those who've got quite a lot of wealth to contribute to the common good".

Tax Justice UK director Robert Palmer urges MPs to rethink scrapping 40% inheritance tax.

[Prem Sikka @premnsikka]

UK Govt and bosses are blaming worker pay for high inflation.

Reality check - real wage cuts for workers, corporations profiteering, exec pay & dividends soaring.

Tesco, Sainsbury’s and Asda doubled profits since 2019.

Have your wages/pensions doubled?
https://t.co/mHbUJ5ZGc2

[Taxpayers Against Poverty @taxpayers_a_p]

“The Government must urgently bring forward reforms to fix our broken tax system, bringing in higher taxes on wealth, so that those who earn the most, and own the most, pay their proper share” - our colleague @robertnpalmer of @TaxJusticeUK
https://t.co/wlUwl9xmQO

[The Equality Trust @equalitytrust.bsky.social @equalitytrust]

Loopholes, generous exemptions, and trusts mean that people like the Duke of Westminster inherit £9bn of wealth almost tax free – while 90% of people on Universal Credit can't afford essentials.
Yes, there's definitely some unfairness in this tax system.

[Prem Sikka @premnsikka]

Amazon’s main UK division pays no corporation tax for second year in a row.

It uses UK infrastructure to make profits.

Its opaque accounts obfuscate true profits. Do not reveal profit shifted to low/no tax jurisdictions through intragroup transactions.
https://t.co/cnuug6eB7z

[Prem Sikka @premnsikka]

Tory millionaires demand scrapping of inheritance tax, only 7% of estates pay it. Rich dodge it via trusts.

Tories don't demand end to austerity, wage cuts or profiteering; taxing capital gains at the same rate as dividends, wealth tax.

It is class war.
https://t.co/DVOc7PFh6N

[Resolution Foundation @resfoundation]

Who would be most affected by 'unavoidable' peak hours car use when local congestion might be in place? The richest fifth of families are 50% more likely to use a car for the school run in cities than poorest fifth of households. More in our latest report https://t.co/DO17re3HHv

[IPPR @IPPR]

What do crime rates, NHS waiting times and the education attainment gap have in common? All three measures have got worse over the last decade.

But why are public services failing & how can we fix them?

New blog from @harry_qp & @halima_khan1 here ⤵️

https://t.co/n8i7bwZGaC

[Prem Sikka @premnsikka]

Profits B4 People:

Pesticide firms withheld brain toxicity studies from regulators.

Can't trust glossy corporate social responsibility statements.

Let people to sue companies/directors.

We can have good society or rampant corporate power, but not both.
https://t.co/rAeGwKfU8V

[Tax Justice UK @TaxJusticeUK]

We’d raise £22 billion a year if we taxed the assets of the UK’s 350 richest families at 2%.

That would be enough to fund the construction of 145,000 new affordable homes a year.

Or pay the wages of nearly a third of NHS staff.

https://t.co/KpLwwMMGUW