A recent report by UK Members of Parliament has revealed that Her Majesty's Revenue and Customs (HMRC) is unable to determine how much tax the country's billionaires pay on their wealth. The Public Accounts Committee highlighted that despite the relatively small number of billionaires in the UK, HMRC lacks an overview of their total wealth and cannot confirm whether they pay the correct amount of tax. The inability to probe potential tax abuses is partly attributed to confidentiality protections. Campaigners have called for greater transparency, including making tax returns of wealthy individuals and corporations publicly available. Meanwhile, some experts argue that implementing a wealth tax would be challenging and may not effectively address Britain's fiscal issues. Dan Neidle of Tax Policy Associates warned that a wealth tax could be problematic, and commentators have urged caution against adopting such measures. Additionally, Labour Party figures have been reluctant to commit to specific tax targets, with Rachel Reeves notably refusing to state support for tax levels below 38% of GDP.