Wealth tax of 0.5% could cover UK's share of loss and damage fund, says charity

International fund set up at Cop27 is intended to provide compensation to countries worst hit by climate breakdownA tax on wealthy Britons of just 0.5% could more than meet the UK's entire "fair share" contribution to the international loss and damage fund established to support countries worst hit by global climate breakdown, a charity has suggested.Taxing 5p of every ?10 of individuals' wealth over ?1m would raise ?15bn a year by 2030, well in excess of an estimated $15bn (?12bn) UK contribution to the new fund, according to an analysis by the anti-poverty campaigners Christian Aid. Continue reading...