2% tax on UK rich list families ‘could raise £22bn a year’

Campaigners for tax reform say similar levies in Europe have helped to reduce inequality

A modest wealth tax on the richest 350 families in the UK could raise more than 20bn a year - enough to fund the construction of 145,000 new affordable homes a year - according to research by fairer taxation campaigners.

A 2% tax on assets above 10m held by all members of the Sunday Times rich list could raise as much as 22bn, according to analysis by Tax Justice UK, the Economic Change Unit and the New Economics Foundation (NEF).