The Green Party has pledged to raise taxes on UK’s top earners in its manifesto, claiming the plans will generate £70bn a year to mend “broken Britain”.On Wednesday, the party will set out what it calls a “game-changing” transformation in housing, transport and the green economy.The plans include raising the National Insurance (NI) rate to 8% on annual wages above £50,270 – equivalent to an extra £283.74 per year in tax for someone earning £55,000.Party co-leader Adrian Ramsay said the Greens were the “only party being honest” about the scale of changes needed to fix the climate crisis, housing and the NHS.In the lead-up to the manifesto launch, the party committed to spending £50bn per year on health and social care by 2030.Ahead of the manifesto launch, Mr Ramsay said the party intended changing the “conspiracy of silence” on taxes by creating a fairer system and asking those “with the broadest shoulders to pay more”.The party will also set out details of a Green Economic Transition programme aiming to upgrade homes across the UK, making them warmer and cheaper to run by increasing energy efficiency.To pay for their plans the party has proposed a new wealth tax charged at 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn.They would also reform the NI system.Currently employees pay no NI on earnings of up to £12,570, 8% on earnings of between £12,570 and £50,270, and 2% on earnings of above £50,270 for the 2023/24 tax year.Under the Greens’ plans, the 8% rate would be paid on all wages above the upper earnings threshold. The Greens said they would also:Introduce a carbon tax on businesses starting at £12 …
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[mwai_chat context=”Let’s have a discussion about this article:nnThe Green Party has pledged to raise taxes on UK’s top earners in its manifesto, claiming the plans will generate £70bn a year to mend “broken Britain”.On Wednesday, the party will set out what it calls a “game-changing” transformation in housing, transport and the green economy.The plans include raising the National Insurance (NI) rate to 8% on annual wages above £50,270 – equivalent to an extra £283.74 per year in tax for someone earning £55,000.Party co-leader Adrian Ramsay said the Greens were the “only party being honest” about the scale of changes needed to fix the climate crisis, housing and the NHS.In the lead-up to the manifesto launch, the party committed to spending £50bn per year on health and social care by 2030.Ahead of the manifesto launch, Mr Ramsay said the party intended changing the “conspiracy of silence” on taxes by creating a fairer system and asking those “with the broadest shoulders to pay more”.The party will also set out details of a Green Economic Transition programme aiming to upgrade homes across the UK, making them warmer and cheaper to run by increasing energy efficiency.To pay for their plans the party has proposed a new wealth tax charged at 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn.They would also reform the NI system.Currently employees pay no NI on earnings of up to £12,570, 8% on earnings of between £12,570 and £50,270, and 2% on earnings of above £50,270 for the 2023/24 tax year.Under the Greens’ plans, the 8% rate would be paid on all wages above the upper earnings threshold. The Greens said they would also:Introduce a carbon tax on businesses starting at £12 …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
