Member Phil White, Opinion Piece on Inequality for The Guardian

Phil White, a founding member of Patriotic Millionaires UK, advocates for higher taxes on the wealthy as a solution to curb inflation and alleviate the burden on low- and middle-income families. In light of the Bank of England's efforts to control inflation by maintaining high interest rates, White highlights how these measures disproportionately affect ordinary families while leaving the wealthiest virtually unaffected. He emphasises the need for structural tax reforms to address the root causes of the cost of living crisis, proposing measures such as equalising rates of capital gains tax with income tax and implementing an annual tax on stocks of wealth. By urging the rich to pay their fair share, White underscores the importance of collective efforts to tackle wealth inequality and ensure a more equitable society.

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