Ahead of the government's Spring Budget on March 6, Plaid Cymru's treasury spokesperson, Ben Lake MP, has called for a comprehensive tax reform.
Commenting on the issue, Mr Lake said that "the current societal crisis our communities are facing should force a fundamental rethink of our approach to taxation."
He argues that wealth generated from investments is taxed less than earnings gained through work.
Plaid Cymru believes that by aligning Capital Gains Tax with Income Tax, it could make an additional £15.2 billion annually available for public services.
The spokesperson stressed the necessity for the Chancellor to address "the urgent need for investment in public services and infrastructure" in the upcoming budget, potentially through reforming the tax system.
Mr Lake revealed inequality issues, stating that "Wales has the highest levels of poverty in the UK, with no significant improvement in people’s outcomes over recent years."
Mr Lake concluded by stating: "The current societal crisis our communities are facing should force a fundamental rethink of our approach to taxation."
This fundamental reform, he suggests, could help address economic inequality and provide necessary funding for crucial public services.
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