Survival Of The Richest

That the Parliament welcomes Oxfam’s report, Survival Of The Richest; understands that the report highlights how extreme wealth and extreme poverty are increasing simultaneously for the first time in 25 years at a time when one in 10 are going hungry; recognises that the report argues that governments should use all their tax tools to address this; understands that, according to the report, the richest 1% globally has claimed almost two-thirds of all new wealth since 2020; considers that a tax of 5% on the world’s multi-millionaires and billionaires could raise the equivalent of $1.7 trillion a year, which, it believes, is enough to lift two billion people out of poverty; believes that the richest 1% in the UK holds more wealth than 70% of the population, with the four richest individuals possessing more wealth than 20 million citizens combined; notes that Scotland’s richest 10% of households reportedly has 217 times more wealth than the least wealthy 10%; considers that 60% of the Scottish public supports tax increases to fund a social safety net; notes Oxfam’s recommendations of reforming/replacing Council Tax and consulting on a net wealth tax for Scotland; calls on the UK Government to consider recommendations from this report such as wealth taxes, corporate windfall taxes, and permanently increasing taxes on the richest one percent in order to reduce inequality; thanks Oxfam for what it sees as this important report, and hopes that its recommendations are given wider consideration.