Shifting the tax debates: Why UK leaders should support a global minimum tax on billionaires

Fernanda Balata wrote for the LSE blog about how a global minimum tax on the wealth of the world’s roughly 3,000 billionaires – as proposed by the Brazilian presidency of the G20 this year – could raise close to £200 billion in revenues to help address the climate and cost of living crises.

“There would also be positive knock-on effects: a global minimum tax on the wealth of the super-rich would strengthen international cooperation towards tax justice and help to create a level playing field for countries to make domestic changes. A new UK government would have an easier and more politically viable job of implementing wealth taxes nationally, with the global minimum tax acting as a ​“tax of last resort” if the wealthiest amongst us decided to use evasion or avoidance mechanisms.”

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