Do We Need To Raise Taxes? - Richard Murphy

26th April 2024

People are asking why I am suggesting ways for the government to raise more tax revenue when modern monetary theory suggests that tax is not required to fund government spending. The answer is to control inflation that more government spending might create, because that is the primary task of tax in the modern economy.

ABOUT RICHARD MURPHY
Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best known book is ‘The Joy of Tax'.

The Taxing Wealth Report 2024 explains how by making up to 30 relatively simple changes to the UK tax system up to £92 billion of additional tax and more than £100 billion of funds for investment could be made available to fund public services in the UK - which is more than any politician could imagine that they need.

The aim is threefold. First, the Report proves that the claim that 'there is no money left' is wrong. Second, it shows that the wealthy and well-off in the UK really are undertaxed. Third, it shows that solving the problem of funding the society that we need is not hard to achieve.

The Taxing Wealth Report 2024 is available at https://taxingwealth.uk/

ABOUT RICHARD MURPHY - The Author
Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He directs the Funding the Future blog. He is a political economist and was a practising chartered accountant for forty years.

The video with transcript HERE

Listen To A podcast introducing the report

Richard Murphy's blog Funding the Future

Taxing Wealth Report 2024
Pdf 440 Pages

For a summary and breakdown of the report go HERE