In terms of the wealthy making a fair contribution to paying down the budget deficit, which is Osborne’s excuse for prolonged austerity whose real aim is to shrink the State, there are many other options to serve that goal.

One is the replacement of the regressive council tax by the much more progressive land value tax.

But there is another which has earned very little attention. That is the enormous extent of UK land and property which now operates from offshore companies and therefore in most cases pays rent to overseas landlords who pay significantly lower rates of tax.

Source: Corbyn strikes a rich vein with taxes on the very rich | Michael Meacher

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