Received from: Accord
Merged into composite C07
Trade unions support progressive taxation. We agree with a system that ensures we all contribute to the revenues the government needs to improve our public services, reduce poverty and grow our economy – but where those with higher incomes, who are better able to afford a higher contribution, pay a larger share.
But our current system is broken and the UK tax system needs urgent reform.
After years of falling living standards working people’s family budgets remain under huge pressure. But those at the top have seen their wealth grow – while paying far lower tax rates than many whose incomes come from earnings.
Fairer, better taxes can deliver a stronger economy, reduce poverty, fund better public services and national defence.
The government must urgently explore how the UK’s tax system could be reformed, including to ensure that wealth and the highest incomes are taxed more fairly. This should focus on changes including:
i. increasing capital gains taxes
ii. introducing an annual wealth tax
iii. reforming pensions tax relief
iv. a windfall tax on highly profitable banks.
Accord