and a member of patriotic millionaires
uk<00:00:04.640> one<00:00:04.799> of<00:00:04.960> the<00:00:05.040> signatories<00:00:05.839> petitioning<00:00:06.560> uh
uk one of the signatories petitioning uh
rishi<00:00:07.279> sunak<00:00:08.160> gary<00:00:08.559> this<00:00:08.720> is<00:00:08.880> an<00:00:09.040> unusual
rishi sunak gary this is an unusual
situation<00:00:10.160> you<00:00:10.320> have<00:00:10.480> to<00:00:10.639> admit<00:00:11.440> um<00:00:11.920> what
you and your uh colleagues on the list
the<00:00:16.880> 30<00:00:17.279> uk<00:00:17.600> millionaires<00:00:18.400> to<00:00:18.560> put<00:00:18.800> together
this letter what prompted it
well<00:00:22.160> i've<00:00:22.320> been<00:00:22.400> a<00:00:22.480> member<00:00:22.720> of<00:00:22.800> this<00:00:22.960> group
well i've been a member of this group
for<00:00:23.199> a<00:00:23.279> while<00:00:23.600> now<00:00:23.760> i<00:00:23.840> mean<00:00:24.000> for<00:00:24.160> me<00:00:24.400> personally
for a while now i mean for me personally
i've<00:00:25.119> been<00:00:25.439> i'm<00:00:25.599> a<00:00:25.680> former<00:00:26.000> trader<00:00:26.480> uh<00:00:26.640> when<00:00:26.800> i
i've been i'm a former trader uh when i
worked<00:00:27.119> in<00:00:27.199> the<00:00:27.279> city<00:00:27.760> basically<00:00:28.320> and<00:00:28.640> i<00:00:28.800> made
worked in the city basically and i made
my<00:00:29.119> money<00:00:29.359> by<00:00:29.519> betting<00:00:29.760> that<00:00:30.000> we<00:00:30.080> wouldn't
my money by betting that we wouldn't
have<00:00:30.560> a<00:00:30.880> strong<00:00:31.199> recovery<00:00:31.599> from<00:00:31.760> 2008<00:00:32.800> because
have a strong recovery from 2008 because
we<00:00:33.120> wouldn't<00:00:33.360> fix<00:00:33.600> inequality<00:00:34.160> so<00:00:34.480> i've<00:00:34.640> been
we wouldn't fix inequality so i've been
very<00:00:35.040> interested<00:00:35.360> in<00:00:35.440> this<00:00:35.600> for<00:00:35.760> a<00:00:35.840> long<00:00:36.000> time
very interested in this for a long time
as<00:00:36.880> soon<00:00:37.040> as<00:00:37.200> covid<00:00:37.600> happens<00:00:38.079> because<00:00:38.320> of<00:00:38.399> my
what's going to happen to inequality
here<00:00:41.520> and<00:00:41.680> i<00:00:41.840> could<00:00:42.000> see<00:00:42.160> very<00:00:42.320> quickly<00:00:42.559> there
here and i could see very quickly there
was<00:00:42.800> going<00:00:42.879> to<00:00:42.960> be<00:00:43.440> an<00:00:43.680> explosion<00:00:44.079> in
a huge accumulation of money with richer
people<00:00:48.000> and<00:00:48.160> we've<00:00:48.320> seen<00:00:48.480> that<00:00:48.640> now<00:00:48.800> there's
people and we've seen that now there's
been<00:00:49.120> a<00:00:49.200> 22<00:00:49.920> increase<00:00:50.320> in<00:00:50.719> billionaire<00:00:51.280> wealth
their wealth by over 20 billion pounds
and<00:00:56.480> yet<00:00:56.800> when<00:00:56.960> the<00:00:57.039> government<00:00:57.360> needs<00:00:57.600> money
and yet when the government needs money
to<00:00:57.920> pay<00:00:58.079> for<00:00:58.239> social<00:00:58.640> care<00:00:58.960> 10<00:00:59.120> billion<00:00:59.440> a<00:00:59.520> year
chosen to raise national insurance which
affects<00:01:08.080> workers<00:01:08.560> earning<00:01:09.200> 10<00:01:09.520> 000<00:01:09.680> 11<00:01:10.000> 000
pounds a year i think it's crazy that
when<00:01:12.799> the<00:01:12.880> billionaires<00:01:13.280> have<00:01:13.360> made<00:01:13.600> so<00:01:13.760> much
when the billionaires have made so much
money<00:01:14.400> during<00:01:14.640> a<00:01:14.720> crisis<00:01:15.439> when<00:01:15.680> the<00:01:15.759> country
billionaires we go to ordinary sometimes
low-paid<00:01:19.920> people<00:01:20.320> and<00:01:20.400> if<00:01:20.560> we<00:01:20.640> do<00:01:20.880> that<00:01:21.360> it's
low-paid people and if we do that it's
going<00:01:21.600> to<00:01:21.680> crush<00:01:21.920> the<00:01:22.000> economy<00:01:22.320> as<00:01:22.400> well<00:01:22.479> in
the longer term
gary<00:01:24.320> how<00:01:24.560> popular<00:01:25.280> is<00:01:25.600> is<00:01:25.759> your<00:01:26.000> position<00:01:26.479> and
gary how popular is is your position and
the<00:01:26.640> position<00:01:27.119> of<00:01:27.200> the<00:01:27.360> other<00:01:27.600> signatories<00:01:28.159> of
you know who was a millionaire and above
as<00:01:34.720> it<00:01:34.799> were<00:01:35.200> then<00:01:35.439> an<00:01:35.600> awful<00:01:35.920> lot<00:01:36.079> of<00:01:36.320> uh
yeah i think that very much depends who
you're<00:01:44.560> asking<00:01:45.040> marielle<00:01:45.600> so<00:01:45.759> um<00:01:46.240> you<00:01:46.399> know<00:01:46.720> i
you're asking marielle so um you know i
come<00:01:47.200> from<00:01:47.600> a<00:01:47.680> place<00:01:47.920> called<00:01:48.000> ilford<00:01:48.320> in<00:01:48.399> east
come from a place called ilford in east
london<00:01:48.799> i<00:01:48.880> come<00:01:49.040> from<00:01:49.119> a<00:01:49.200> pretty<00:01:49.759> poor
london i come from a pretty poor
background<00:01:50.960> you<00:01:51.119> know<00:01:51.280> guys<00:01:51.520> i<00:01:51.680> know<00:01:51.920> that<00:01:52.079> i
background you know guys i know that i
grew<00:01:52.320> up<00:01:52.399> with<00:01:52.640> that<00:01:52.799> they're<00:01:53.040> very<00:01:53.200> happy
grew up with that they're very happy
with<00:01:53.520> the<00:01:53.680> idea<00:01:54.079> but<00:01:54.240> you<00:01:54.320> know<00:01:54.560> also<00:01:55.360> i<00:01:55.680> went
with the idea but you know also i went
to<00:01:56.399> work<00:01:56.640> in<00:01:56.799> the<00:01:56.880> city<00:01:57.119> and<00:01:57.200> then<00:01:57.360> i<00:01:57.439> went<00:01:57.600> and
to work in the city and then i went and
i<00:01:57.840> studied<00:01:58.079> at<00:01:58.159> oxford<00:01:58.560> and<00:01:58.640> then<00:01:59.200> i<00:01:59.280> was
i studied at oxford and then i was
surrounded<00:01:59.759> by<00:01:59.840> a<00:01:59.920> lot<00:02:00.000> of<00:02:00.079> millionaires<00:02:00.719> and
um
i<00:02:02.240> suspect<00:02:02.640> if<00:02:02.719> you<00:02:02.880> ask<00:02:03.040> them<00:02:03.200> they<00:02:03.520> some<00:02:03.759> of
i suspect if you ask them they some of
them<00:02:04.240> might<00:02:04.399> not<00:02:04.560> be<00:02:04.719> so<00:02:04.880> happy<00:02:05.119> with<00:02:05.360> it<00:02:05.439> but
i think uh also the the important thing
is<00:02:17.360> the<00:02:17.520> letter<00:02:17.840> emphasizes<00:02:18.480> that<00:02:18.560> this<00:02:18.800> isn't
is the letter emphasizes that this isn't
just<00:02:19.280> a<00:02:19.520> a<00:02:19.760> good<00:02:20.080> will<00:02:20.400> gesture<00:02:20.800> it's<00:02:20.959> a<00:02:21.040> matter
just a a good will gesture it's a matter
of<00:02:21.440> what<00:02:21.599> makes<00:02:22.000> economic<00:02:22.720> sense<00:02:23.520> so<00:02:23.840> can<00:02:24.000> you
of what makes economic sense so can you
outline<00:02:25.200> what<00:02:25.440> a<00:02:26.000> difference<00:02:26.480> a<00:02:26.959> wealth<00:02:27.280> tax
outline what a difference a wealth tax
might<00:02:27.840> make<00:02:28.080> to<00:02:28.239> the<00:02:28.400> economy<00:02:28.879> and<00:02:29.040> what<00:02:29.280> sort
might make to the economy and what sort
of<00:02:29.680> well<00:02:30.080> wealth<00:02:30.400> tax<00:02:30.720> you'd<00:02:30.959> be<00:02:31.120> proposing
of well wealth tax you'd be proposing
yeah<00:02:33.120> i<00:02:33.200> mean<00:02:33.440> the<00:02:33.599> very<00:02:33.840> simple<00:02:34.160> message<00:02:34.480> is
yeah i mean the very simple message is
look<00:02:34.800> if<00:02:34.879> you<00:02:34.959> give<00:02:35.120> a<00:02:35.200> thousand<00:02:35.519> pounds<00:02:35.840> to<00:02:35.920> an
ordinary person that thousand pounds
will<00:02:37.840> probably<00:02:38.160> be<00:02:38.239> spent<00:02:38.480> by<00:02:38.560> the<00:02:38.720> end<00:02:38.800> of<00:02:38.879> the
will probably be spent by the end of the
year<00:02:39.360> but<00:02:39.519> if<00:02:39.599> you<00:02:39.680> give<00:02:39.840> a<00:02:39.920> thousand<00:02:40.239> pounds
to a very wealthy person
they're<00:02:42.319> going<00:02:42.400> to<00:02:42.480> use<00:02:42.720> it<00:02:42.879> to<00:02:42.959> buy<00:02:43.200> assets
they're going to use it to buy assets
from<00:02:44.000> ordinary<00:02:44.400> people<00:02:44.879> so<00:02:45.440> money<00:02:45.680> that<00:02:45.840> is<00:02:45.920> in
it drives the economy money that goes to
very<00:02:51.360> wealthy<00:02:51.760> people<00:02:52.560> tends<00:02:52.800> to<00:02:52.879> push<00:02:53.040> house
very wealthy people tends to push house
prices<00:02:53.599> up<00:02:53.680> because<00:02:53.920> these<00:02:54.080> guys<00:02:54.400> buy<00:02:54.640> assets
prices up because these guys buy assets
push<00:02:55.280> up<00:02:55.360> stocks<00:02:55.920> pushes<00:02:56.239> up<00:02:56.400> stock<00:02:56.640> prices
pushed up house prices so
at<00:02:59.440> the<00:02:59.599> moment<00:02:59.840> we've<00:02:59.920> had<00:03:00.080> a<00:03:00.159> crisis<00:03:00.560> which
ordinary people are struggling because
costs<00:03:06.560> of<00:03:06.640> basics<00:03:07.040> are<00:03:07.120> going<00:03:07.440> up<00:03:07.599> and<00:03:07.680> now
costs of basics are going up and now
their<00:03:08.000> taxes<00:03:08.319> are<00:03:08.400> going<00:03:08.640> up<00:03:08.800> as<00:03:08.879> well<00:03:09.599> that
their taxes are going up as well that
means<00:03:10.400> lower<00:03:10.720> spending<00:03:11.280> and<00:03:11.440> a<00:03:11.519> weak<00:03:11.760> recovery
means lower spending and a weak recovery
so<00:03:13.680> what<00:03:13.920> exact<00:03:14.400> policies<00:03:15.200> do<00:03:15.360> you<00:03:15.440> think
uh well there's lots of different um
suggestions<00:03:22.480> a<00:03:22.560> few<00:03:22.720> guys<00:03:22.959> have<00:03:23.040> come<00:03:23.200> out
suggestions a few guys have come out
there<00:03:23.440> was<00:03:23.599> a<00:03:23.760> wealth<00:03:24.000> tax<00:03:24.239> commission<00:03:24.560> done
advani and larry summers they suggested
a<00:03:29.200> one-off<00:03:29.519> wealth<00:03:29.840> tax<00:03:30.159> on<00:03:30.239> people<00:03:30.640> with
a one-off wealth tax on people with
maybe<00:03:31.040> worth<00:03:31.360> over<00:03:31.519> 2<00:03:31.680> million<00:03:32.000> pounds<00:03:32.319> or
perhaps what's over 1 million pounds
there's<00:03:34.640> a<00:03:34.720> world<00:03:34.879> tax<00:03:35.120> currently<00:03:35.440> coming<00:03:35.599> in
there's a world tax currently coming in
in<00:03:35.840> the<00:03:35.920> us<00:03:36.239> which<00:03:36.400> is<00:03:36.480> focusing<00:03:36.879> on<00:03:37.120> you<00:03:37.200> know
for me i think the most important thing
is<00:03:42.159> that<00:03:42.319> it's<00:03:42.400> not<00:03:42.560> evaded<00:03:43.120> by<00:03:43.280> the<00:03:43.519> very<00:03:43.680> very
is that it's not evaded by the very very
rich<00:03:44.239> because<00:03:44.400> i<00:03:44.480> know<00:03:44.720> ordinary<00:03:45.120> people<00:03:45.360> they
rich because i know ordinary people they
see<00:03:45.680> policies<00:03:46.080> like<00:03:46.239> this<00:03:46.400> and<00:03:46.480> they<00:03:46.560> think<00:03:46.720> oh
see policies like this and they think oh
yeah<00:03:47.200> right<00:03:47.760> you're<00:03:47.920> going<00:03:48.000> to<00:03:48.080> say<00:03:48.239> you're
taxing the riches but you're actually
going<00:03:49.599> to<00:03:49.680> tax<00:03:50.000> us<00:03:50.400> so<00:03:50.560> i<00:03:50.640> think<00:03:50.879> the<00:03:51.120> most
going to tax us so i think the most
vital<00:03:51.920> thing<00:03:52.560> is<00:03:52.720> that<00:03:52.799> the<00:03:53.120> very<00:03:53.519> riches<00:03:53.840> pay
vital thing is that the very riches pay
this<00:03:54.239> tax<00:03:54.480> so<00:03:54.560> when<00:03:54.720> i'm<00:03:54.879> asked<00:03:55.120> about<00:03:55.439> it<00:03:55.840> i
this tax so when i'm asked about it i
say<00:03:56.239> look<00:03:56.720> i'm<00:03:57.120> wealthy<00:03:57.519> but<00:03:57.680> i'm<00:03:57.760> not<00:03:58.080> super
next family i'll pay it as long as rishi
pays<00:04:02.959> it<00:04:03.280> so<00:04:03.680> the<00:04:03.760> most<00:04:04.000> important<00:04:04.319> thing<00:04:04.480> is
pays it so the most important thing is
that<00:04:04.720> it<00:04:04.799> hits<00:04:05.200> the<00:04:05.519> very<00:04:05.840> very<00:04:06.080> richest<00:04:06.480> in
and i mean
with<00:04:10.000> two<00:04:10.239> things<00:04:10.480> i<00:04:10.560> mean<00:04:10.720> the<00:04:10.879> first<00:04:11.200> is<00:04:11.360> how
with two things i mean the first is how
much<00:04:11.599> money<00:04:11.840> do<00:04:11.920> you<00:04:12.000> think<00:04:12.159> it<00:04:12.239> could<00:04:12.400> raise
much money do you think it could raise
but<00:04:12.959> the<00:04:13.120> second<00:04:13.760> i<00:04:14.080> suppose<00:04:14.480> there's<00:04:14.640> a<00:04:14.720> more
cultural thing about tax invasion which
has<00:04:18.239> always<00:04:18.639> puzzled<00:04:19.120> me<00:04:19.440> why<00:04:19.840> why<00:04:20.079> it's<00:04:20.320> so
someone to sit at a dinner or something
and<00:04:24.400> tell<00:04:24.560> you<00:04:24.720> that<00:04:24.800> they<00:04:24.960> live<00:04:25.199> in<00:04:25.360> monaco
and tell you that they live in monaco
because<00:04:26.320> that<00:04:26.479> means<00:04:26.720> they<00:04:26.880> don't<00:04:27.040> have<00:04:27.120> to
because that means they don't have to
pay<00:04:27.440> any<00:04:27.680> tax<00:04:28.000> and<00:04:28.080> you're<00:04:28.240> sitting<00:04:28.560> next<00:04:28.800> to
the tax out of your salary that it takes
to<00:04:32.400> pay<00:04:32.639> for<00:04:33.120> you<00:04:33.199> know<00:04:33.440> services<00:04:33.919> like<00:04:34.080> the
is it a particularly british thing that
the<00:04:38.880> idea<00:04:39.120> that<00:04:39.600> that<00:04:39.919> paying<00:04:40.160> taxes<00:04:40.560> for<00:04:40.720> the
the idea that that paying taxes for the
little<00:04:41.040> guys<00:04:41.280> or<00:04:41.440> do<00:04:41.520> you<00:04:41.600> think<00:04:41.759> it's<00:04:41.919> more
like i said my personal background i
come<00:04:46.400> from<00:04:46.479> quite<00:04:46.639> a<00:04:46.720> poor<00:04:46.960> background<00:04:47.360> but
come from quite a poor background but
now<00:04:47.759> i've<00:04:47.919> worked<00:04:48.160> in<00:04:48.240> the<00:04:48.320> city<00:04:48.560> and<00:04:48.720> i've
now i've worked in the city and i've
been<00:04:48.960> to<00:04:49.120> oxford<00:04:49.360> and<00:04:49.440> i<00:04:49.520> know<00:04:49.680> richard<00:04:50.000> people
been to oxford and i know richard people
i<00:04:50.639> think<00:04:51.040> this<00:04:51.199> really<00:04:51.360> depends<00:04:51.680> kind<00:04:51.840> of
i think this really depends kind of
where<00:04:52.080> you<00:04:52.160> come<00:04:52.320> from<00:04:52.639> ordinary<00:04:53.120> people<00:04:53.759> they
where you come from ordinary people they
have<00:04:54.080> to<00:04:54.160> pay<00:04:54.320> taxes<00:04:54.800> it<00:04:54.880> comes<00:04:55.040> straight<00:04:55.280> out
have to pay taxes it comes straight out
of<00:04:55.360> their<00:04:55.520> pay<00:04:55.680> packet<00:04:56.000> they<00:04:56.160> don't<00:04:56.320> have<00:04:56.400> a
of their pay packet they don't have a
choice<00:04:56.880> and<00:04:56.960> if<00:04:57.040> you<00:04:57.199> ask<00:04:57.440> them<00:04:58.000> how<00:04:58.160> do<00:04:58.320> you
choice and if you ask them how do you
feel<00:04:58.720> about<00:04:59.280> you<00:04:59.440> know<00:04:59.520> the<00:04:59.680> super<00:05:00.000> rich<00:05:00.400> like
uh you know politicians and millionaires
and<00:05:02.479> billionaires<00:05:02.800> avoiding<00:05:03.199> taxes<00:05:03.919> they<00:05:04.160> all
and billionaires avoiding taxes they all
hate<00:05:04.560> it<00:05:04.720> but<00:05:05.280> it's<00:05:05.520> become<00:05:05.840> quite<00:05:06.080> normalized
in in wealthy communities because
wealthy<00:05:09.280> people<00:05:10.320> huge<00:05:10.560> amounts<00:05:10.800> of<00:05:10.880> them<00:05:11.039> are
wealthy people huge amounts of them are
doing<00:05:11.280> it<00:05:11.360> so<00:05:11.520> it's<00:05:11.600> normalized<00:05:12.160> for<00:05:12.400> them<00:05:12.639> so
everybody's doing it so they're happy
about<00:05:18.880> it<00:05:19.280> but<00:05:19.440> if<00:05:19.600> you<00:05:19.680> ask<00:05:19.919> ordinary<00:05:20.320> people
about it but if you ask ordinary people
who<00:05:20.639> have<00:05:20.800> no<00:05:20.960> choice<00:05:21.280> and<00:05:21.360> have<00:05:21.440> to<00:05:21.520> pay<00:05:21.680> their
massively benefiting from it
the<00:05:30.000> last<00:05:30.240> time<00:05:30.560> that<00:05:30.800> that<00:05:31.039> tax<00:05:31.280> rates<00:05:31.600> went
the last time that that tax rates went
up<00:05:32.000> for<00:05:32.160> the<00:05:32.240> super<00:05:32.639> rich<00:05:33.039> they<00:05:33.199> deserted<00:05:33.680> the
up for the super rich they deserted the
country<00:05:34.240> in<00:05:34.320> their<00:05:34.880> in<00:05:34.960> their<00:05:35.199> droves<00:05:35.759> didn't
country in their in their droves didn't
they<00:05:36.160> do<00:05:36.240> you<00:05:36.320> think<00:05:36.479> that's<00:05:36.720> why<00:05:36.960> the
government is is so reluctant to
consider<00:05:39.600> a<00:05:39.759> wealth<00:05:40.000> tax<00:05:40.240> i<00:05:40.400> remember<00:05:40.639> sitting
consider a wealth tax i remember sitting
next<00:05:41.440> to<00:05:41.680> a<00:05:41.759> minor<00:05:42.160> oligarch<00:05:42.639> who<00:05:42.800> was
complaining about the fact that they
were<00:05:44.400> going<00:05:44.560> to<00:05:44.639> take<00:05:45.199> do<00:05:45.280> you<00:05:45.360> remember<00:05:45.600> when
were going to take do you remember when
there<00:05:45.759> was<00:05:45.919> a<00:05:46.000> 30<00:05:46.479> 000<00:05:46.800> a<00:05:46.880> year<00:05:47.199> sort<00:05:47.360> of
there was a 30 000 a year sort of
one-off<00:05:48.400> non-dom<00:05:49.120> tax<00:05:49.440> that<00:05:49.600> was<00:05:49.759> going<00:05:49.919> to<00:05:50.000> be
apoplectic because he said he employed
four<00:05:54.320> people<00:05:54.639> a<00:05:54.800> cook<00:05:55.120> a<00:05:55.199> driver<00:05:55.759> a
four people a cook a driver a
housekeeper<00:05:56.880> and<00:05:56.960> a<00:05:57.120> butler<00:05:57.600> i<00:05:57.680> think<00:05:58.400> um<00:05:59.039> you
housekeeper and a butler i think um you
know<00:05:59.680> there<00:05:59.840> is<00:06:00.000> huge<00:06:00.319> resistance<00:06:00.880> to<00:06:01.039> this
know there is huge resistance to this
isn't<00:06:01.440> there<00:06:02.000> do<00:06:02.080> you<00:06:02.240> think<00:06:02.319> that's<00:06:02.560> why<00:06:02.720> the
government doesn't just introduce it
yeah<00:06:05.840> i<00:06:05.919> get<00:06:06.080> this<00:06:06.240> question<00:06:06.560> a<00:06:06.639> lot<00:06:06.880> and<00:06:07.120> i
yeah i get this question a lot and i
think<00:06:07.440> it's<00:06:07.600> kind<00:06:07.840> of<00:06:08.000> based<00:06:08.560> a<00:06:08.639> little<00:06:08.880> bit<00:06:09.039> on
think it's kind of based a little bit on
a<00:06:09.199> bit<00:06:09.280> of<00:06:09.360> a<00:06:09.440> misunderstanding<00:06:10.400> of<00:06:10.560> what
a bit of a misunderstanding of what
wealth<00:06:11.120> is<00:06:11.280> and<00:06:11.360> what<00:06:11.440> it<00:06:11.520> means<00:06:11.759> to<00:06:11.840> be<00:06:11.919> super
wealth is and what it means to be super
wealthy<00:06:12.639> i<00:06:12.720> think<00:06:13.120> we<00:06:13.280> kind<00:06:13.440> of<00:06:13.520> have<00:06:13.680> this
wealthy i think we kind of have this
sort<00:06:14.000> of<00:06:14.560> image<00:06:14.800> in<00:06:14.960> our<00:06:15.039> head<00:06:15.280> that<00:06:15.520> that
sort of image in our head that that
wealthy<00:06:16.160> people<00:06:16.479> are<00:06:16.639> just<00:06:17.199> super<00:06:17.520> super<00:06:17.680> rich
wealthy people are just super super rich
people<00:06:18.240> have<00:06:18.400> like<00:06:18.720> billions<00:06:19.120> of<00:06:19.199> pounds<00:06:19.840> like
people have like billions of pounds like
in<00:06:20.160> a<00:06:20.240> big<00:06:20.560> black<00:06:20.880> bag<00:06:21.120> like<00:06:21.280> a<00:06:21.360> bank<00:06:21.600> robber<00:06:21.919> or
in a big black bag like a bank robber or
something<00:06:22.560> but<00:06:22.720> the<00:06:22.800> truth<00:06:23.120> is<00:06:23.600> these<00:06:23.840> guys
something but the truth is these guys
because<00:06:24.800> they<00:06:25.280> well<00:06:25.520> yeah<00:06:25.840> i<00:06:25.919> mean<00:06:26.080> they
because they well yeah i mean they
probably<00:06:26.479> do<00:06:26.639> have<00:06:26.720> large<00:06:26.960> amounts<00:06:27.280> of<00:06:27.360> cash
probably do have large amounts of cash
but<00:06:27.919> the<00:06:28.080> main<00:06:28.319> source<00:06:28.560> of<00:06:28.639> their<00:06:28.720> wealth<00:06:29.120> is
but the main source of their wealth is
assets<00:06:30.000> and<00:06:30.160> that's<00:06:30.400> property<00:06:31.199> based<00:06:31.440> in<00:06:31.520> this
assets and that's property based in this
country<00:06:32.240> land<00:06:32.560> based<00:06:32.800> in<00:06:32.880> this<00:06:33.039> country<00:06:34.000> it
country land based in this country it
could<00:06:34.240> be<00:06:34.400> debt<00:06:34.720> other<00:06:34.880> people's<00:06:35.280> debt<00:06:35.680> of
these guys if they leave their assets
are<00:06:42.400> still<00:06:42.639> here<00:06:43.280> and<00:06:43.360> we<00:06:43.520> can<00:06:43.600> still<00:06:43.840> tax<00:06:44.080> them
are still here and we can still tax them
so<00:06:44.400> i<00:06:44.479> mean<00:06:44.960> it's<00:06:45.120> not<00:06:45.280> as<00:06:45.440> if<00:06:45.520> these<00:06:45.759> guys
disappear and all of the houses
disappear<00:06:48.000> out<00:06:48.080> of<00:06:48.160> the<00:06:48.240> country<00:06:48.560> you<00:06:48.639> know
disappear out of the country you know
the<00:06:49.120> wealth<00:06:49.440> exists<00:06:49.919> in<00:06:50.000> this<00:06:50.160> country<00:06:50.800> and
it's increasingly owned by a tiny
minority<00:06:53.280> we<00:06:53.440> can<00:06:53.680> tax<00:06:53.919> it<00:06:54.000> and<00:06:54.080> i<00:06:54.240> think<00:06:54.639> the
minority we can tax it and i think the
reason<00:06:55.039> that<00:06:55.360> we<00:06:55.520> don't<00:06:55.759> is<00:06:55.919> perhaps<00:06:56.240> more<00:06:56.400> to
reason that we don't is perhaps more to
do<00:06:56.639> with<00:06:56.720> the<00:06:56.800> fact<00:06:57.039> that<00:06:57.680> people<00:06:58.000> like<00:06:58.240> our
politics is my final question
um<00:07:06.720> uh<00:07:06.960> well<00:07:07.120> i'm<00:07:07.280> working<00:07:07.520> on<00:07:07.599> a<00:07:07.680> book<00:07:07.840> at<00:07:07.919> the
um uh well i'm working on a book at the
moment<00:07:08.240> and<00:07:08.400> making<00:07:08.720> youtube<00:07:09.039> videos<00:07:09.440> uh<00:07:09.919> once
moment and making youtube videos uh once
um<00:07:10.639> i<00:07:10.720> get<00:07:10.880> enough<00:07:11.039> support<00:07:11.360> in<00:07:11.440> that<00:07:11.520> then
um i get enough support in that then
then<00:07:12.080> maybe<00:07:12.319> i'll<00:07:12.400> make<00:07:12.560> the<00:07:12.639> jump<00:07:13.199> we'll<00:07:13.360> see
then maybe i'll make the jump we'll see
okay<00:07:13.840> well<00:07:14.400> come<00:07:14.560> back<00:07:14.800> and<00:07:14.880> talk<00:07:15.120> to<00:07:15.199> me<00:07:15.360> about
okay well come back and talk to me about
your<00:07:15.680> book<00:07:16.160> thank<00:07:16.400> you<00:07:16.560> very<00:07:16.720> much<00:07:17.440> that<00:07:17.599> was
housing could be so much more affordable
wages<00:07:26.319> could<00:07:26.400> be<00:07:26.560> so<00:07:26.800> much<00:07:27.039> higher<00:07:27.599> and<00:07:27.759> we
wages could be so much higher and we
could<00:07:28.000> have<00:07:28.160> so<00:07:28.400> many<00:07:28.560> more<00:07:28.800> options<00:07:29.520> in<00:07:29.599> how
could have so many more options in how
we<00:07:29.840> live<00:07:30.080> our<00:07:30.160> lives<00:07:30.560> some<00:07:30.720> of<00:07:30.800> them<00:07:30.880> put<00:07:31.039> a<00:07:31.120> lot
of money into paying economists and
think<00:07:33.039> tanks<00:07:33.360> to<00:07:33.520> tell<00:07:33.759> you<00:07:34.080> that<00:07:34.319> inequality
think tanks to tell you that inequality
is<00:07:35.039> important<00:07:35.280> for<00:07:35.440> the<00:07:35.520> economy<00:07:36.479> that<00:07:36.720> is<00:07:36.800> not