Call for wealth tax as UK billionaire numbers up by 20% since pandemic

Sudden explosion of billionaire wealth' at the expense of the rest of society is grossly unjust', says Equality Trust

The number of UK billionaires has increased by a fifth since the onset of the Covid pandemic, according to a report calling for a progressive wealth tax to tackle rising inequality amid the cost of living crisis.

The Equality Trust charity said interventions by governments and central banks during the pandemic allowed for an explosion of billionaire wealth" in Britain at the expense of the rest of society, after fuelling a boom in property values and on the stock market.