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Legislation to Radically Flatten The Distribution of Capital and Income

Comment 10th July 2010

No citizen to have a NET income of more than £200,000 p.a. No citizen to have a personal capital of more than £10 million pounds. No citizen to hold excessive amounts of land or residential/commercial property.

It is plainly inequitable that over 30,000 people in the UK (plus tax non-domiciled persons) have incomes in excess of £500,000 p.a. (the average being well over £1 million p.a.). The excess should be either taken as tax or redistributed, according to the wishes of the citizen paying, to approved and reputable/checked charities.

It is inequitable that some persons have capital (whether held directly or via family trusts etc) of not only tens of millions, but hundreds and even thousands of millions of pounds. Examples: the present Prime Minister, said to be "worth" £40 millions; the present Chancellor of the Exchequer, said to have inheritance expectations of over £500 millions; the fact that the recent winner of over £80 millions on the Euromillions lottery only just managed to get halfway up the Sunday Times list of the 1,000 richest people in the UK.

Excess capital to be used to fund new economic enterprises or to relieve poverty or to fund cultural or other charitable activity.

It is inequitable that people own land in the hundreds of thousands of acres in the UK, a small country where most people own little or no land (mostly tiny amounts round dwelling houses). Landholding to be limited to 20,000 acres in areas like the Scottish Highlands, perhaps 5,000 acres in Southern England. Excess land to be held in a State Land Bank for rental or sale to suitably qualified individuals, families or collectives.

Why does this matter?

The measures proposes will assist greatly the birth of a new UK, a cultured and educated European society where the measure of a citizen will be, indeed, the content of his character and not the contents of hi/her bank account.


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