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Simon Hughes: Wealth inequality 'impeding growth'

29 August 2012 Last updated at 13:18 BST

The Deputy Prime Minister Nick Clegg has raised the idea of taxing wealth for a limited period of time to help cut the deficit.

Simon Hughes, the deputy leader of the Liberal Democrats, said that Britain has become "less and less fair, not just in income but in wealth distribution".

He told the World At One that wealth inequality is "impeding growth" and "creating a sense of inequality".

"What we shouldn't be doing is rewarding people who have inherited their wealth and sitting on it," he said.