It was reported by the BBC today that
Chancellor George Osborne says he is “shocked” that some of the UK’s richest people have organised their finances so that they pay virtually no income tax.
In a sidebar to this article, a BBC business reporter asks:
How is Mr Osborne going to force these people to cough up more?
The answer, of course, is that he can’t. Doing so would make the UK ‘uncompetitive’ in the global marketplace. So taxing the rich – the 1%, as they have become known – is just one more issue that can only be solved by a Simultaneous Policy approach.