Nick Clegg: Rich should pay extra tax

The deputy prime minister has revealed plans to launch an emergency tax on the super-rich to help the UK through the recession. 'What we are embarked on is in some senses a longer economic war rather than a short economic battle,' he says. 'People of very considerable personal wealth have got to make a bit of an extra contribution.'

by Rebecca Burn-Callander
Last Updated: 03 Oct 2014

Speaking ahead of the autumn conference In Brighton, Clegg has defied his Coalition partners in calling for an extra levy on Britain's super-rich. They need to 'make a contribution to the national effort,' he says, claiming that mansion tax alone is not doing enough to fill the public coffers.

Labour and the Tories have formed an unlikely alliance in opposing Clegg's plans. Labour critics point out that this is a complete volte-face on taxing Britain's wealthy: Clegg voted for the tax cut for millionaires in George Osborne's Budget after all. While Conservative backbencher Bernard Jenkin has also dismissed the new tax as a 'pre-conference easy clap line.' He reckons that such a move would 'strangle the goose that lays the golden egg'.

It looks like Clegg's rebellion will be short-lived: Osborne has already put the kibosh on the idea. 'We have to be careful as a country we don't drive away the wealth creators and the businesses that are going to lead our economic recovery,' he says. Back to the drawing board, Clegg.

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