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Over 50,000 demand wealth tax as alternative to austerity in Autumn Budget
Chancellor of the Exchequer Rachel Reeves with Prime Minister Sir Keir Starmer after she gave a speech during the Labour Party Conference in Liverpool, September 23, 2024
THE Labour leadership faced demands today to tax the rich instead of inflicting more painful spending cuts in its Budget on Wednesday.
Chancellor Rachel Reeves has warned that her fiscal announcement will involve “difficult decisions” because of a £22 billion “black hole” left by the Tories in the nation’s finances, which has since led her to talk of finding £40-50bn in spending cuts and tax rises.
Today Labour MP Richard Burgon presented a 50,000-strong petition in Parliament calling for wealth taxes as an alternative.
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