There is little doubt that the Covid pandemic has resulted in wealth inequalities being exacerbated. Many private fortunes have grown during the course of the pandemic in some cases by hundreds of millions or even billions of multi currency amounts including amongst British citizens. This has been at a time of great hardship for many businesses, individuals and families. This divergence has highlighted further the wealth inequalities in the UK that are perceived as not being healthy for a stable and well functionng society. At the same time Exchequer funds have been severely depleted and stretched by the support that has been required from Central Government for businesses and livelihoods put at peril by the pandemic. As a result there is now an irresistible political dynamic that requires that these inequalities are addressed by requiring all British citizens of very significant wealth, and not least those who have prospered further under the pandemic, to contribute significantly to the rebuilding of the UK’s finances. For such a measure to be widely supported and successful in raising significant funds it needs to be implemented in a way which is not only fair but which also does not undermine the retention of wealth and which is not detrimental to new wealth creation. The future of the British economy depends on future growth and wealth creation.
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