Introducing a two per cent minimum annual tax on households with more than £100 million in wealth could raise around £10 billion in 2026, while affecting fewer than 1,000 households in the UK, suggests a report by academics at King’s College London, the Paris School of Economics and the University of California, Berkeley. The amount generated would be enough revenue to cut Britain’s current budget deficit by almost a third.

Dr Ben Tippet is Lecturer in Economics and Wealth Inequality at King’s College London. His research examines wealth concentration, taxation, inequality and climate change. He leads a British Academy/Leverhulme-funded project analysing Britain’s wealthiest families using data from The Sunday Times Rich List.

The report and its research has been reported on by The Guardian, The Independent, Al Jazeera and The Daily Express.

Read more on Substack, the project news story or in a new working paper Taxing Extreme Wealth in the United Kingdom: Revenue Estimates for a 2% Minimum Tax on Ultra-High-Net-Worth Households Dr Ben Tippet and Professor Gabriel Zucman in International Tax Observatory.