Communists: tax the rich - but not too much

Press release of the day comes from the Communist Party of Great Britain who take the populist view that the rich ought to pay for the financial crisis.

Communist Party of Britain general secretary Robert Griffiths says that the public finance deficit could be closed by taxing the wealthiest 10 per cent of the population, who own 44 per cent of all the country's declared personal wealth.

"A 1 per cent Wealth Tax on the super-rich would raise around £39 billion a
year, a speculation tax on the City another £30 billion a year, and a
windfall tax on energy, banking and retail monopoly profits an extra £16
billion," Mr Griffiths declares.

To which we say: The Communist party want to tax the rich for only 1% of their wealth? That seems a trifle generous.

Shouldn't the rich have their property confiscated by the state and turned over to social housing, their furs burned in pyres in the streets and their assets assigned to senior party members?

Mmm,on second thoughts that kind of stance might risk alienating some floating voters - better just stick with the 1% tax.

Marc Livingstone is standing for the Communist Party in Glasgow North West, one of six seats the party is contesting.