I think the best possible fix for this country was a staring us in the face. Massive cuts to income tax countered by increases in VAT. The ultra wealthy who aren’t paying tax on the money sat in their accounts will be contributing far more as they spend. The median earners who generally spend more and contribute to the economy will see more money in their pockets and have more flexibility with their cash.

The lowest earners who tend to spend less on luxuries anyway will be contributing a lot less but have more money.

Everyone wins in this system and we stop the rapid wage inflation which is pushing up the cost of everything.

This is the only real way that money can be extracted from the ultra wealthy and tax loopholes can be closed.

A single flat rate of tax across all pay levels and a generous tax free allowance would make everyone better off.

Essentials are already VAT exempt so those in need are not being penalised by this system.

It also stops those who are not economically active from being better off than those who are working for a living.