Owen Jones is right to identify the lack of ambition in tackling wealth inequality (Labour must be bolder – only a wealth tax can defeat inequality, 23 March). With the top 1% of the UK owning about 24% of the nation’s wealth, it is clear we are at risk of inequality becoming entrenched for generations. Labour’s 2017 manifesto might have been its boldest in decades, but it was not a particularly radical offer. Their plans would only have increased public spending from around 40% to 42% of GDP. This is not enough to rescue our NHS, social care and public services – let alone address inequality. Germany spends 44% of GDP.

Labour still looks to unsustainable growth to deliver what the country needs, rather than real redistribution of existing wealth. But we need new thinking which recognises that our future freedom depends on living within our limits and doing far more with what we already have. As well as a wealth tax on the top 2% of earners, the outdated and unjust council tax system should be replaced with land value tax, and inheritance tax could be calculated on the circumstances of the recipient – not the donor – to stop wealth accumulating. Underpinned by a universal basic income to provide the essential financial support and opportunity we all deserve, these policies could transform Britain.

The future economic, social and environmental challenges we face require that we reprogramme our economy, not continue with outdated thinking that is part of the problem. Only then will we create a country where everyone can thrive.

Jonathan Bartley

Co-leader, Green party

• Owen Jones is right to say that wealth should be taxed to address inequality, but does not go far enough. As a member of the top 1% by income and assets, I believe I should pay more tax, but the reality is that everyone will have to pay more tax at Scandinavian levels to sustain the NHS and a social democratic society. That ought to include taxing gifts and inheritance as income and capital gains tax on all property sales, including homes.

Higher taxes, however, will not be enough to counter increasing inequality. The wage share and capital share of wealth need to change. I favour capitalism, but the current model is regressive. Socially responsible capitalism requires more regulation and policies designed to encourage companies to spend less on dividends and more on pay.

John Nickson

London

• How comforting for all us long-time Guardian readers to see Owen Jones reviving the perennial leftwing cry of “tax the rich”. So we should – the problem is that we all define the rich as “people who have more money than I do”.

Lindy Hardcastle

Groby, Leicestershire

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