Gabriel Zucman

But in exchange for that,

No exemption, no deduction whatsoever.

Okay.

And so that's key to make the tax work.

And then the second issue was that the countries that had wealth taxes, they never did anything to fight the risk of out-migration.

And the solution is create this kind of anti-exile shield, this new principle that, you know, you became rich here.

Now you move.

It's not going to make a difference.

You will still have to pay the 2%.

Well, first of all, £15 billion, it's a lot of money.

Just to give a sense of how much money we're talking about, Keir Starmer famously wanted to get a bit of money by cutting winter fuel allowance for retirees.

And he was expecting £1.5 billion from that.

So here we're talking about 10 times more money coming from about 1,000...

people.

That's roughly the number of people who have more than 100 million pounds in the UK.

So number one.

Number two, you're absolutely right that it's not going to fix all the problems.

But it is indeed a first step, because once governments have demonstrated that no one is above the law, that the super-rich can be made to pay their fair share, then it opens a realm of possibility.

pretty high chance that it may be Andy Burnham the mayor of Manchester have you met Andy Burnham no I've not met him but I'd be very happy I've met many people interested in those issues in many countries I've worked with a long time for a long time in the US with Bernie Sanders for instance when he was running for president in 2019 working on his

economic program, his tax program.