Polanksi: Criticisms of calls for a wealth tax are ‘absurd’ – as he says it’s about ‘fairness’

Zack Polanski has defended his calls for a wealth tax, and said the criticism that the richest in society will leave is “absurd” because “most of the time you can’t just pick up an asset and move”.

The Green Party leader is leading a protest outside of parliament, calling on the chancellor to introduce wealth taxes in the budget tomorrow.

Polanski wants to see a 1% tax on assets over £10m and a 2% tax on those worth £1bn or more. He has also called for capital gains tax to be brought in line with income tax.

This would ensure “we are taxing unearned wealth as much as we’re taxing earned income”, he tells Sky News. 

“It’s all about fairness.”

Asked whether it is unrealistic to expect the wealthiest to stay in the UK or to not use the best accountants to avoid a wealth tax, Polanski hits back.

He says: “First of all, let’s make sure that we’re investing in HMRC, so people aren’t able to escape paying tax. That’s ultimately about fairness. 

“Everyone, particularly the poorest people are made to pay their tax, and they’re not going to get away with it. So why should the super rich get away with it? 

“But also we’re talking about assets here, and most of the time you can’t just pick up an asset and move. 

“The Duke of Westminster owns half of Mayfair. You can’t just pick that up and move away with it. 

“So, ultimately it’s about making sure that we’re targeting the assets. 

“I also think it’s a fundamental misunderstanding of wealth. 

“If you’re very wealthy and you’re being asked to pay 1% or 2% of your wealth, the idea you’re just going to get up and leave the country because you don’t want to pay what is a relatively small proportion of your wealth just seems a little bit absurd.”

Polanski tells our presenter Sophy Ridge that he welcomes suggestions that the chancellor may introduce a so-called “mansion tax” in the budget tomorrow, changing council tax for the highest-valued properties.

“Obviously this would depend on the details that come out tomorrow, but absolutely, in principle, it’s totally something I’d support,” he says.