Abi Wilkinson I’m an avowed capitalist and don’t share many of your political views but I completely agree with you on this specific point. I think our taxation system needs a complete overhaul as it current penalises labour (the tools each and everyone is born with) whilst giving preferential treatment to capital (the resource a select few receive via the lottery of life).

I’d support a significant increase in taxes on capital and would consider a 100% inheritance tax on wealth above a certain amount in return for a significant reduction in income taxes. This rebalancing of the tax system would help labour re-compete and also have the knock on effect of reducing labour costs for public services.

People dismiss this as unachievable because of the objection of capital owners, but most true capitalists understand that a strong welfare system and dependable, stable jobs with good income is vital to ongoing growth.