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More or Less: Behind the Stats

Could a 2% wealth tax raise ?24bn?

More or Less: Behind the Stats

BBC

Business, Mathematics, Science, News Commentary, News

4.63.5K Ratings

🗓️ 26 March 2025

⏱️ 30 minutes

🧾️ Download transcript

Summary

Some Labour politicians have been calling for a wealth tax, claiming a 2% tax could raise ?24bn. Where are the numbers from and do they add up?

A listener asked why housing in the UK is the oldest in Europe. We explain what?s going on.

The Office for National Statistics has changed how it measures the value of pensions and knocked ?2 trillion off its estimates of wealth. Not everyone thinks it was a good change. We find out why.

And Lent is here, but how long is the Christian fasting period? We look at the history of a very flexible 40 days.

Tim Harford investigates some of the numbers in the news, and the world around us.

Presenter: Tim Harford Reporter: Lizzy McNeill Producers: Nathan Gower and Charlotte McDonald Series producer: Tom Colls Production co-ordinator: Gemma Ashman Sound mix: Gareth Jones Editor: Richard Vadon

Transcript

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0:00.0

Before this BBC podcast kicks off, I'd like to tell you about some others you might enjoy.

0:05.1

My name's Will Wilkin and I Commission Music Podcast for the BBC.

0:08.7

It's a really cool job, but every day we get to tell the incredible stories behind songs,

0:13.5

moments and movements, stories of struggle and success, rises and falls, the funny, the ridiculous.

0:19.1

And the BBC's position, at the heart of British music

0:21.7

means we can tell those stories like no one else.

0:24.5

We were, are and always will be right there at the centre of the narrative.

0:28.6

So whether you want an insightful take on music right now

0:31.3

or a nostalgic deep dive into some of the most famous and infamous moments in music,

0:36.1

check out the music podcasts on BBC Sounds.

0:39.9

BBC Sounds, music, radio podcasts. Hello and welcome to more or less. Wherever there's a

0:46.7

top secret group chat about numbers, you can bet that we're lurking, unobserved and taking notes.

0:52.6

I'm Tim Harford. This week, we resolve last week's

0:56.3

low jeopardy cliffhanger about why British houses are really old. We investigate claims that the

1:01.9

Office for National Statistics have stuffed two trillion pounds into a duffel bag and absconded to Brazil.

1:07.7

We return to the increasingly recondite topic of how many days there are in Lent,

1:12.4

but first, last week the government announced changes to the disability benefits system,

1:18.2

which included cuts aimed at saving £5 billion a year. The move was met with dismay by some,

1:25.9

including those on the left of the Labour Party, such as MP

1:28.9

Diane Abbott. She appeared on Radio 4's Today programme and argued that there was another way to deal

1:34.8

with the financial pressures of a rising disability benefits bill. I would introduce a wealth tax.

1:40.3

If you brought in a wealth tax of just 2% on people with assets over £10 million,

...

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