The Numbers
Revenue-neutral. Same spending, different sources. Every measure accounts for itself. The system as a whole runs a surplus of £34bn.
Taxes abolished
| Tax abolished | Current revenue | Replaced by |
|---|---|---|
| Employee National Insurance | −£95bn | Wealth Tax, LVT, Carbon Tax |
| Employer National Insurance | −£105.6bn | Wealth Tax, LVT, Carbon Tax |
| Council Tax (1991 valuations) | −£50.2bn | Residential Land Value Tax |
| Business Rates | −£26bn | Business Land Value Tax |
| Fuel Duty | −£24bn | Carbon Tax |
| Vehicle Excise Duty | −£7bn | Road Pricing |
| Inheritance Tax | −£7.5bn | Wealth taxed annually instead |
| Total abolished | −£315.3bn |
New and reformed revenues
| Measure | Gross revenue | Offset / replaces | Net new |
|---|---|---|---|
| People | |||
| Annual Wealth Tax — progressive wealth tax on net wealth above £100k, plus exit tax | £87.75bn | −£1.25bn (agricultural exemption) | +£86.5bn |
| Unified Income Tax — dividends and capital gains taxed at same rates as wages | £18bn | — | +£18bn |
| Housing Revolution — residential Land Value Tax | £114.4bn | −£50.2bn (replaces council tax) | +£64.2bn |
| Planet | |||
| Carbon Tax | £53.5bn | −£24bn (replaces fuel duty) | +£29.5bn |
| VAT for the Planet — higher rates on polluting products, reverse VAT on returnable packaging | £9bn | −£8.25bn (zero-rating + reverse VAT) | ~£0 |
| Road Pricing — GPS-based distance charging, replaces VED | £28bn | −£7bn (replaces VED) | +£21bn |
| Profit | |||
| Abolish Business Rates — Business Land Value Tax | £31.5bn | −£26bn (replaces business rates) | +£5.5bn |
| Cut Corporation Tax to 20% | £60bn | −£70bn (current rate) | −£10bn |
| Supplementary measures | |||
| Enhanced Digital Services Tax (5% on platforms, lowered threshold) | £16bn | −£0.6bn (current DST) | +£15.4bn |
| Financial Transaction Tax (shares, bonds, derivatives) | £6bn | −£3.5bn (replaces stamp duty) | +£2.5bn |
| Luxury Goods VAT (30% on high-value purchases) | £3bn | — | +£3bn |
| VAT Registration Threshold reduction (£90k → £25k by Year 3) | £2.5bn | — | +£2.5bn |
| Total new revenue | £649.65bn | +£349.65bn net | |
How the surplus is reached
| Calculation | Amount |
|---|---|
| Total new revenue (including reformed income tax and corporation tax) | £649.65bn |
| Less: current income tax being replaced by reformed system | −£230bn |
| Less: current corporation tax being replaced by lower-rate system | −£70bn |
| Net additional revenue above current baseline | £349.65bn |
| Taxes abolished (National Insurance, Council Tax, Business Rates, Fuel Duty, VED, IHT) | −£315.3bn |
| Net surplus | +£34.35bn |
What the surplus funds
- £25bn Green transition investment over 5 years — heat pumps, insulation, public transport, renewables planning
- £10bn Economic contingency reserve — buffer for revenue shortfalls during the transition
- Remainder Additional public services (NHS, education) or debt reduction: from 98% to 85% of GDP over 10 years
What changes for most households
Young worker (£30k salary)
+£5,800–6,500/year
↑ £3,800 (NI abolished) + £2,500 (doubled allowance)
↓ ~£500 (Carbon Tax)
Working family (two earners, £55k combined)
+£12,700/year
↑ £6,500 (NI abolished) + £1,800 (Council Tax gone)
↓ ~£600 (Carbon Tax)
Renter (no property wealth)
+£6–9k/year
↑ NI abolished + doubled allowance + Council Tax gone
↓ Some rent pass-through possible
Pensioner (wealth below £100k)
Even to slightly positive
↑ £1,200–2,500 (Council Tax abolished)
↓ Minimal Wealth Tax
All figures are Year 1 estimates based on publicly available UK tax data and modelled using comparable international systems. Revenue projections use OBR-equivalent methodology applied to current tax bases. These are AI-assisted estimates, not Treasury-certified figures. See individual measures for detailed assumptions and evidence.