Tax extreme wealth to stop the cost of living crisis

The prime minister Liz Truss has resigned. However the chancellor Jeremy Hunt remains in post. Hunt’s ‘Halloween budget’, which is expected to contain public spending cuts, will continue as planned on the 31 October. 

There’s also a strong likelihood whoever becomes PM will continue pushing an agenda that involves big cuts to public services.

In this period of chaos it's more important than ever that we put forward a clear alternative.

Stop the cost of living crisis

​The Tax Justice team and our supporters were outside Parliament yesterday, demanding more support for everyone struggling with their energy bills.

To avoid this growing cost of living catastrophe, and further spending cuts, the government must tax extreme wealth. The government must also introduce a new windfall tax on oil and gas giants' record profits.

We were there with the campaign group Fuel Poverty Action, who are calling for a free energy allowance to cover everyone’s basic needs. You can read more about the Energy for All protest here.

Thank you to those of you who came down to get involved, and Fuel Poverty Action who organised it.

We’re going to keep pushing for taxes on extreme wealth – and on the huge, record profits of big companies. 

Tax is about choices. It’s unacceptable for Liz Truss’ government to put the burden of the cost of living crisis onto the shoulders of ordinary people. Many wealthy people have been sheltered from the worst aspects of this crisis, it’s right that they pay their share.

Pushing tax justice inside Parliament

While some of Tax Justice UK were outside Parliament, I was inside, hosting an event on tax with a group of MPs from across the political spectrum.

The meeting was hosted with the All-Party Parliamentary group on Responsible Taxation and the Patriotic Millionaires UK. I spoke, highlighting the urgent need to tax wealth instead of cutting public spending. 

And earlier in the day, we also took part in an event hosted by Richard Burgon MP and Lord Prem Sikka on taxing wealth. 

I am delighted to see that there is real momentum building behind our case for taxing wealth more inside and outside parliament. There simply isn’t a better alternative.