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I have not seen the list of 50 families but it is a fair bet that the Dyson's and Bamford's are in there. So if you tax their wealth what do they do? sell off chunks of their business potentially to foreigners who switch manufacturing to other countries.
Productivity improvement usually requires capital investment but socialist governments invariably disincentivise this approach as investors rightly look for a reward commensurate with the risk.
Rather than incentivising government to tax more how about reducing government spending and encouraging productive employment in the wealth creating private sector.
I think you will find that it was Blair, during our membership of the European Union, who threw open our borders and welcomed the Romanians et all on their accession to the Union.