On the night of Tuesday 11 November, activists from radical grassroots collective Climate Resistance projected their demands for wealth taxation onto a Tory donor’s superyacht.
Baron Irvine Laidlaw’s boat, named “Lady Christine”, cost some $70 million – plus an estimated $7m annual upkeep. As such, it made a perfect target for guerrilla messaging, including “Tax the Super Rich,” “Tax Dodger,” “Wealth Tax Now,” and “The Enemy Arrives by Super-Yacht”.
‘Obscene wealth’
Climate Resistance spokesperson Sam Simons said:
We projected these messages because this superyacht is a symbol of obscene wealth. While Baron Laidlaw dodges taxes and lives in Monaco, ordinary Brits are struggling with rising bills, NHS cuts, and climate collapse. This $70 million floating palace costs $7 million a year to maintain – enough to fund multiple community projects or climate initiatives. We’re here to say that the super-rich like Baron Laidlaw cannot continue to hoard wealth while the rest of us pay the price. The only solution is to tax extreme wealth out of existence and use those resources to fund climate action.”
Baron Laidlaw is currently based in Monaco, neatly avoiding UK taxes. He stepped down from his position in the House of Lords in 2004. Now, with an estimated wealth of £787 million, Laidlaw is one of the Conservative’s highest donors. He’s handed over £3m to the party so far Party’s largest financial backers, including £25,000 to help make Boris Johnson mayor of London.
Introduce a ‘wealth tax’
The projection stunt was timed just a week ahead of the UK’s autumn budget. Activists and charities are putting chancellor Rachel Reeves under increasing pressure to raise taxes on the super-rich. For example, Oxfam have stated:
Tackling inequality starts with making those at the top pay their fair share. This wealth tax is just an example of more taxes we need. We should be taxing the super-rich to tackle inequality and fight the climate crisis, and we will be pushing for more taxes in the future. If the wealthiest paid a little more in taxes (it’s just small change for them), that money could fund healthcare, education, fair wages, and protection from the climate crisis.
Hell, even the millionaires are calling for a wealth tax. Campaign group Patriotic Millionaires believes the government could generate an additional £36m annually by taxing those with the most money and reforming capital gains tax. Group member Phil White said:
It’s time for the wealthiest – people like us – to pay a fairer share, so we can help lift these kids out of poverty and begin rebuilding our public services and communities right across the UK. […]
We all want to live in a society where everyone has a decent shot at life – but at the moment that just isn’t the case.
As things stand, the UK’s richest 10% hold more wealth than the other 90% combined. YouGov polling has shown that a wealth tax and a mansion tax are the only two policies with consistent support across the supporters of the five most popular parties. A massive 75% of people support the introduction of a wealth tax of 1% on assets over £10m and 2% on assets over £1bn.
However, Reeves has previously ruled out a direct wealth tax. Instead, she has hinted that the rich paying more will be “part of the story” for the Autumn budget. With such overwhelming public support for the measure, however, we must ask – why is the chancellor and, for that matter, the Labour government so afraid of upsetting the wealthy few?
Images via Climate Resistance
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I wonder what lasers are capable of these days…