Received from: Accord
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Over the past 14 years, the UK economy has stagnated, leading to a critical infrastructure deficit, overburdened public services and falling living standards for working families.
This economic hardship has been unequally distributed. CEO pay has continued to rise dramatically, with many FTSE 100 CEOs earning more in an hour than the annual average for workers.
Wealth inequality is further exacerbated by an unfair tax system that disproportionately taxes income earned through work compared to unearned wealth. This disparity is not only unjust but deprives the economy of vital revenue that could be used to invest in infrastructure, public services and put more money into the pockets of working people.
The last Conservative government created an economy that rewards wealth, not work. We need change.
Congress calls upon the TUC to make the case for a more progressive taxation system, including:
i. equalising capital gains tax in line with income tax, so that all income is taxed equally regardless of whether it comes from wealth or work
ii. closing inheritance tax loopholes, including allowances for agricultural and business land, and special treatment of alternative investment market (AIM) shares
iii. applying national insurance to investment income so that all income is taxed at the same level
iv. closing private equity tax loopholes.
Accord