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Make rich pay more, TUC urges
Paul Nowak, general secretary of the TUC speaking at the TUC congress at the Liverpool Arena, September 11, 2023

BANKS and the super-rich must start paying their fair share to get the economy going, the TUC insisted today.

TUC general Secretary Paul Nowak responded to anaemic growth figures by calling for “a serious conversation about tax.”

He said: “It’s time the banks, betting giants and super-rich paid their fair share so we can build an economy that works for everyone.

“If we want to protect spending on our high streets, and see better hospitals, schools and transport — the basics that keep Britain running — then those with the broadest shoulders need to pull their weight.”

Figures released by the Office of National Statistics (ONS) showed that the economy grew by just 0.1 per cent in August, with a boost from the manufacturing sector.

However, the ONS revised July’s figure downwards, from zero growth to a 0.1 per cent contraction, limiting growth over the three months to August to 0.3 per cent.

Bosses’ lobby group the CBI commented: “Many businesses reported subdued demand and higher operating costs. And firms are choosing to sit tight on hiring and investment until there’s more clarity on the policy outlook.”

The Treasury said that Chancellor Rachel Reeves aimed to boost growth by investing in infrastructure, and cutting regulations, with the planning Bill being amended to scrap local democratic and environmental safeguards.

She has also signalled that she may use her Budget next month to increase taxes, and hinted that the richest may be asked to pay more.

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