Produced by the Institute for Public Policy Research (IPPR) this paper assesses the ability of the UK’s financial institutions to pay an additional £20 billion annually in tax revenues in order to provide funds that could be used to fight poverty and climate change. It examines the distributional impact of such taxes and makes the case that they are progressive - being paid by those most able to afford it. A comparison is made with other potential increases in taxes such as VAT that would be regressive - hitting the poorest hardest.
IPPR is the UK’s leading progressive think tank, producing cutting-edge research and innovative policy ideas for a just, democratic and sustainable world.
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