Sustainability and Environment
Climate Action Group Calls for Taxes on Private Jets
Demands come as new UK government prepares to announce budget in October

Oxfam, the not-for-profit campaigning on poverty and sustainability issues, has called on the UK government to introduce new luxury taxes on owners and users of private jets and super yachts. In a report published on Wednesday, the group said that up to £2 billion ($2.6 billion) could be used to fund work in “communities suffering the worst impacts of climate change.”

The pressure for new wealth taxes comes as the UK’s new Labour government prepares to introduce its first budget in October. In the face of depleted public finances, the new administration is widely expected to increase tax burdens in several areas, while keeping an election pledge not to increase the income tax base rates or the UK equivalent of social security. It is also expected that the budget may target high-net-worth individuals in one way or another.