Robert Peston

If it was applied to those with wealth of $100 million plus, or if it was just the billionaires, what are the pots of money that would be raised?

And what do you say to those who always make the

sort of alarmist claim that if you were to do this, all of these people would relocate elsewhere and would also stop investing in the UK.

And there's another point, which is,

Whether or not this is sensible taxation, and I'm pretty sure everybody listening thinks it's an absolute scandal that these immensely wealthy people don't pay what would be seen as their fair share.

As you pointed out, they have enormous power and enormous influence.

If I were the chancellor and I were thinking about doing this, I would also be acutely aware that international investors regard the UK government's debt as...

you know, not quite as secure as they would like.

And every time there is an issue, you know, every time somebody raises something about, oh, well, people are going to be moving capital out of the UK, at that point, UK government debt prices fall, the interest rate paid by the government goes up.

And so you find yourself in a situation where for a whole variety of reasons, even if this feels like the rational thing to do, and even if you've got a chancellor on the left of politics, they sort of panic and they think, oh my God, I just can't do this.

I mean, you became, I think, almost a household name in France because this proposal in I think it was 2024.

at a time of the great chaos around forming a government in France, the left in France said, as a price of supporting the government, that they should do the Zucman tax.

And then Arnaud, the richest man in France, started a campaign against it and nothing happened.

And so if it couldn't happen in France, in your home country, why do you think it might be practical here?

And can I ask you, do sort of leading politicians on the left, have they talked to you?

I mean, the Greens, I think, would sign up, no question, to your proposal.

But have you talked to anybody in Labour about this?

Can I just ask you on that?

Because you would argue that it would have pretty broad support.

So what would Le Pen or Bardella say about this?