South Korea reports second-highest cases of pandemic so far
Destitution levels in Great Britain are expected to double in the wake of the pandemic with an estimated 2 million families, including a million children, likely to struggle to afford to feed themselves, stay warm, or keep clean as the recession deepens, according to a study.
The estimates, carried out for the Joseph Rowntree Foundation (JRF), described “increasing, intensifying” levels of extreme poverty experienced by some of the country’s poorest households in recent years, and highlight a social security system increasingly failing to protect society’s most vulnerable:
The British government has been urged to launch a one-off wealth tax on millionaire households to raise up to £260bn in response to the coronavirus pandemic, as the crisis damages Britain’s public finances and exacerbates inequality.
The Wealth Tax Commission – a group of leading tax experts and economists brought together by the London School of Economics and Warwick University to examine the case for a levy on assets – said targeting the richest in society would be the fairest and most efficient way to raise taxes in response to the pandemic.
In a highly anticipated report, the group, which has drawn attention from the Commons Treasury committee and the former head of the civil service, Sir Gus O’Donnell, said its proposals would be preferable to a broad-based tax raid on workers’ incomes and consumer spending: