Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Letter in the weekly Oxford Times today - Tackle the Wealth Gap
The following letter is published with the headline “Tackle the Wealth Gap”
in the first column of the weekly Oxford Times this morning,

Sir – Now the UK is to be fully independent, we must tackle the wealth gap
between the rich and the poor which was partly responsible for the Brexit
decision. All political parties, whether left, right or centre, should
address the question, which they have ignored for too long, of the
quasi-feudal inequality of inheritance of capital wealth.

   The EU will no longer be able to object on grounds of discrimination if
all 25-year-old UK-born, rather than EU-born, UK citizens, in London,
Glasgow or anywhere else, receive, as they should, a basic minimum UK
Universal Inheritance, financed out of taxation on the giving and receiving
of capital gifts, bequests and inheritance from the previous generation of
UK tax payers.

   This real, continuation, traditional UK Liberal Party policy must now be
introduced as soon as possible, because in order to be fair to adjacent year
groups of 25-year-old UK-born UK citizens, it can only be introduced

   The Liberal Party proposal is that UK Universal Inheritance should start
at a mere £1,000 and be increased annually by that amount for ten years or
more up to about 10% of average wealth in the UK.

   Inheritance Tax on giving and bequeathing would be reduced and renamed
Capital Donor Tax, with significantly reduced exemptions and reliefs.

   UK Universal Inheritance would then be financed, and clawed back from the
more fortunate, by a new cross-referred progressive tax on cumulative
lifetime receipt of unearned capital gifts and bequests, including the UK
Universal Inheritance itself.

   As things are, some inherit unearned billions, free of tax, during their
lifetime, while all too many others never inherit any capital at all.  Other
political parties should stop inveighing against inequality or demanding
greater equality of opportunity for all without even mentioning the positive
redistribution in each new generation of vastly unequal unearned inherited

Dane Clouston

Oxfordshire Liberal Party

Member, Liberal Party National Executive Committee

Forum Jump:

Users browsing this thread: 1 Guest(s)