SOLOMON HUGHES examines the shift in Labour rhetoric on racism and Reform UK – and what’s driving it
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Capital gains tax: an open goal for Labour
Raising capital gains tax to match income tax is not only economically sound but morally just, potentially raising billions for public services — it’s an absolute no-brainer for any Labour government, argues BERNIE EVANS
Chancellor of the Exchequer Rachel Reeves makes her keynote speech during the International Investment Summit in London, which brings together up to 300 industry leaders to boost investment in Britain, October 14, 2024
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SINCE the election, speculation has been rife about which taxes Chancellor Rachel Reeves will increase in the forthcoming Budget.
Having accepted the idiotic Tory fiscal rules, raising income tax, VAT, and corporation tax isn’t an option for her, and so attention has been focused on other possible ways of acquiring much-needed resources to fund our public services.
Increasing National Insurance contributions from employers is clearly on the cards, but it has the disadvantage of hitting small businesses like local pubs, shops and restaurants, many of which are already in danger of going under.
Along with a new wealth tax, which sadly seems to have been given the thumbs down by Reeves, and closing all the loopholes around inheritance tax, paid by only 6 per cent of the country’s population, the most sensible option is to concentrate on capital gains tax.
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