Gary Stevenson, a former Citibank trader turned economic commentator, is advocating for the introduction of a wealth tax in the United Kingdom to tackle growing economic inequality. Stevenson, who began his career on the trading floors of Canary Wharf before leaving the finance industry at age 27, has since established himself as a prominent voice on economic disparities through his YouTube channel, Gary’s Economics, and his 2024 memoir, The Trading Game.

Stevenson’s proposed policy calls for a 2 percent wealth tax on assets exceeding £10 million, which he argues is necessary to address the concentration of wealth at the very top and the resulting squeeze on middle- and working-class households. He contends that the UK currently lacks the institutional mechanisms to effectively tax the wealthiest individuals, allowing a rapid transfer of wealth away from the broader population to a small elite.

In a recent interview from London, Stevenson discussed the urgency of reforming tax policy against a backdrop of widely documented wealth shifts. He points to recent data from the Sunday Times Rich List indicating significant migration of the wealthy out of the UK. Roughly one-sixth of individuals on the 2024 list no longer appear in the 2026 version, with many relocating abroad—an outcome Stevenson attributes in part to ongoing political discussions about taxing the rich.

However, this proposed measure is not without controversy. Critics such as Nigerian-born telecoms billionaire Bassim Haidar have warned that a wealth tax could prompt wealthy individuals to sell UK assets and leave the country altogether. Stevenson dismisses these concerns as largely exaggerated, insisting that many threats to exit are used as scare tactics to derail meaningful reform.

The debate over wealth taxation is gaining momentum internationally. Stevenson cited recent political developments in countries including Hungary, Denmark, France, Spain, and Norway, where wealth tax proposals or implementations have become part of mainstream policy discussions. He also noted the absence of strong inequality dialogue in UK politics, highlighting calls from figures such as former Prime Minister Tony Blair, Labour leader Keir Starmer, and other senior politicians for greater attention to economic disparities.

Stevenson’s first documentary, How to Get Filthy Rich, scheduled for release next week, explores wealth concentration in the UK through interviews with a diverse range of individuals—from aristocrats and billionaires to struggling working-class families. The film aims to provide a broad perspective on how wealth inequality is reshaping British society.

While some observers question Stevenson’s credentials, he holds an MPhil in economics from Oxford and maintains that his practical experience and continued engagement with economic research position him as a leading voice on inequality in the UK. As the public conversation shifts and the possibility of a wealth tax gains traction, Stevenson’s campaign highlights a growing recognition of the challenges posed by wealth concentration in contemporary Britain.