By Anon
“A typical tax exile will have UK residency, a Swiss account, and assets hidden in companies and trusts established in UK protectorates such as Jersey, Guernsey, the British Virgin Islands or the Cayman Islands, where details such as company accounts and even company ownership are not required to be published.
“Any UK assets, including homes, land, art collections and even garages full of high-end cars will typically be owned by such offshore trusts. This wealth is of little profit to the UK taxpayer, but can pay rich dividends for the UK lawyers, accountants and money managers who advise on how to hide it.”
The UK’s Professor Sir Anthony Atkinson (above) has written Inequality: What Can Be Done?
What Atkinson wants for the UK:
1. An income tax rate of 65% for those earning more than £200,000 per year.
2. An income tax rate of 45% for those earning over £65,000 per year.
3. A much higher minimum wage.
4. A ‘minimum inheritance’ paid to every 18-year-old.
5. Guaranteed public employment.
6. More comprehensive taxation of inheritance and property
7. An expansion of universal benefits.
9. The breaking up or regulating of monopolies.
Research from Cheshire Hunger points to three main problems in the UK: