LABOUR should bring in a wealth tax in the upcoming Budget, leading left MP Richard Burgon told the Morning Star today.

He urged the move as new polling showed that it would be very popular with voters intending to back Reform UK.

“It is time ministers grasped the nettle of redistribution,” Mr Burgon said, claiming that it was wrong for ministers to be considering breaking a manifesto pledge not to raise income tax on working people when a tax on wealth could raise £24 billion a year.

He also urged Chancellor Rachel Reeves to raise revenue by equalising capital gains tax with income tax and by introducing a windfall tax on energy monopolies.

All of this would be popular with Nigel Farage’s voters, if not with the plutocratic Mr Farage himself.

The YouGov poll found 61 per cent of Reform supporters would back a one-off tax on UK households with net wealth above £10 million.

77 per cent also said they would back a windfall tax on energy companies and 73 per cent are in favour of a windfall tax on bank profits.

Mr Farage, an unrepentant Thatcherite, wants none of that and prefers axing spending.

Charities today united to denounce his plan to further slash the already depleted overseas aid budget.

George Graham of Save the Children UK said: “Slashing the budget for international aid and co-operation won’t just turn our backs on children and partners around the world, it will undermine our national interest.

“Covid was a stark demonstration that no-one is safe until everyone is.”