Only the British Government has the authority to introduce a wealth tax. One method may be to capitalise on the "London effect" now spreading out of London's housing market. A 1% tax on any private property sold over £1M would make a massive difference. Redistribution is better than revolution.
Why is this important?
So many social issues the UK faces today are to do with the fact that "trickle down" economics proved to be a myth. Societies down the ages have faced the choice: redistribution or revolution. The U.K. may be far from the latter; but anger and frustration is felt by millions.
A sensible wealth tax is always possible. All that stands in the way is political will. An unbalanced society is healthy for nobody. Make the change before anger turns into rebellion.
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