THE First Minister has branded Labour’s wealth tax U-turn as “disturbing but not surprising” after the party’s shadow chancellor insisted…
’s wealth tax U-turn as “disturbing but not surprising” after the party’s shadow chancellor insisted there were “no plans” for one - despite previously advocating for it.
Starmer previously vowed to increase the 45p income tax rate for the top 5% of earners, stating that there would be “no stepping back from our core principles”.But Reeves told The Telegraph at the weekend that as well as dropping the wealth tax commitment, a Labour government would not introduce a mansion tax on expensive properties or raise capital gains tax.policy change as “shameful” and a “political choice to favour big business”.
Yousaf told The National: “It wasn’t just that she ruled out a wealth tax, I think that she ruled out taxes on those who are the wealthiest which I found I have to say disturbing, but not surprising, given that Labour have U-turned on every progressive policy it seems that they have ever announced.
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