© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News

Wealth tax of 0.5% could cover UK’s share of loss and damage fund, says charity

International fund set up at Cop27 is intended to provide compensation to countries worst hit by climate breakdown

A tax on wealthy Britons of just 0.5% could more than meet the UK’s entire “fair share” contribution to the international loss and damage fund established to support countries worst hit by global climate breakdown, a charity has suggested.

Taxing 5p of every £10 of individuals’ wealth over £1m would raise £15bn a year by 2030, well in excess of an estimated $15bn (£12bn) UK contribution to the new fund, according to an analysis by the anti-poverty campaigners Christian Aid.

Continue reading…

Related posts

Queen supports Black Lives Matter, says senior royal representative


Brexit deadlock: EU members asked by Brussels to think again on fishing offer


UK must honour its word over Brexit, says Emmanuel Macron


Pin It on Pinterest

Share This