video UK · 15 July 2020

Why Jeremy Hunt doesn't pay stamp duty - Gary on BBC Radio 4 Today Show with Nick Robinson

Gary Stevenson, a former interest rate trader, argues for a UK wealth tax, stating that the current system effectively taxes income but fails to tax accumulated wealth from capital gains or trusts. He highlights how loopholes, like stamp duty exemptions for bulk property purchases, disproportionately benefit the rich, advocating for a robust wealth tax without such exploitable weaknesses.

By Gary Stevenson

Featuring Nick Robinson

Mentions Jeremy Hunt

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Arguments in this video

Britain already taxes wealth Gary Stevenson · 01:50
“when they brought in the second home stamp duty, an extra three percent for second home buyers — perfectly reasonable tax”
Easy to avoid Gary Stevenson · 01:35
“there's no point bringing in a wealth tax which has loopholes in it because if you put loopholes in your tax system then the people who will exploit those looph”
Taxes wealth like work Gary Stevenson · 00:36
“for me i think one of the most important things when we deal with tackling the wealthy is that we develop a tax system that is able to tax wealth and not just i”
Income is not wealth Gary Stevenson · 00:44
“we currently have a tax system which is relatively good at taxing people who work for their money and earn a lot of money such as footballers and sometimes bank”