The BBC reports that Rachel Reeves, shadow chancellor, has ruled out a wealth tax, should the Labour Party win the next general election, suggesting that extra funding for public services will need to come from economic growth rather than from taxation, in a clear departure from policy under the previous party leadership.
Labour would not target expensive houses, increase capital gains tax or put up the top rate of income tax, instead doing ‘whatever it takes to attract business investment into the UK’, says the BBC in its coverage of an interview Reeves gave to the Sunday Telegraph.
Increasing the additional rate of income tax, one of Keir Starmer’s leadership pledges, now appears to have been ruled out.
The BBC reports that Rachel Reeves, shadow chancellor, has ruled out a wealth tax, should the Labour Party win the next general election, suggesting that extra funding for public services will need to come from economic growth rather than from taxation, in a clear departure from policy under the previous party leadership.
Labour would not target expensive houses, increase capital gains tax or put up the top rate of income tax, instead doing ‘whatever it takes to attract business investment into the UK’, says the BBC in its coverage of an interview Reeves gave to the Sunday Telegraph.
Increasing the additional rate of income tax, one of Keir Starmer’s leadership pledges, now appears to have been ruled out.
