Reduce economic inequality in Britain

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Reduce economic inequality in Britain

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In view of the high levels of inequality in both income and capital assets owned in Britain, the Treasury should plan for a phased introduction of a progressive taxation policy which would ensure that by 2020, the top ten per cent of households do not own more assets than three times the average owned by the bottom 50%. This would require a tax on capital assets owned by households , a progressive income tax to ensure that the gross inequalities in income and capital are reduced, and an end to the advantages enjoyed by those not domiciled in the UK.

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