Wes Streeting pitches 'wealth tax that works', equalising CGT with income tax
Wes Streeting proposed raising capital gains tax rates to equal income tax rates in his UK Labour leadership pitch, calling the change a "wealth tax that works." He said the current system unfairly favors people WHO realise income through asset sales and that equalising rates would close that advantage for wealthier taxpayers. The Institute for Fiscal Studies has argued there is a strong case for merging income tax and National Insurance into a single tax to make Britain’s biggest taxes more transparent, a reform that connects to Streeting’s goal of taxing income and capital similarly. If adopted, the plan would reshape how wealthy households are taxed and could change decisions about selling assets, investments, and tax planning ahead of the leadership contest.
#C4News "Zack Polanski is now setting Labour policy" BBC News, "Wes Streeting would like to see a wealth tax on investments.. Equalising the rates of capital gains and income tax" Wes Streeting, "Generate £12 billion revenue" Let's see which other Green policies Labour will adopt next 😉
Trilby18Bollocks will he actually do anything about an effective wealth tax. Judge him on his evidence of PAST action, not future airy fairy waffle.
Viscount Pontypandy12Why settle for pale imitations when you can go for the original & authentic? Vote Green! 💚
Pete Marchetto7Either a Damoscene conversion or he's lying. Streeting being Streeting, I find the latter easier to believe.
James D. Worth5So here's what we'll do, all of the truly progressive policies to improve people's lives we will make Wes carry them. But nobody likes Wes. Exactly. So when he sinks, he takes those policies with him leaving the rest free to get on with the status quo of nothingness. Fools.
mactakeshi.bsky.social3I think you will find its the voters in Scotland voting for Green SNP policies doing it. Though they do say its the best form of flattery.
Griffin3All the things labour could be doing and aren’t… and havent. And likely won’t. He must have really banged his head to go from full-on capitalist to socialist… Or more likely, he’s full of shit
What fresh hell…?3Actually weren’t a lot of Green policies formerly Labour policies that labour abandoned in order to pursue disastrous Tory policies?
Alan3He will never get near the leadership so this is just blah blah blah.
Melinda Salisbury2On the bright side, it's a small relief to see that at least one person in the Labour party has finally realised that it's actually the Greens and not Reform who are hoovering up their votes and is contemplating ways to try wooing voters back. Even if it is this fucking guy
Jeffy 🌿2Ah, Wesley. He does love his silly little lies.
Barry2it's a good thing isn't it? I am not keen on Streeting but if it makes the Labour Party take notice then happy days. The more that adopt a wealth tax the better.
LibLabGreen Barbara2He needs to review his position on trans rights, conversion therapy and NHS treatments.
quangiewangle.bsky.social2Better that than Farage. This has been part of Labour policy before and it's now more of a leadership pitch, but maybe Polanski is doing something useful here - a centre of gravity to the left to help keep Labour in the right place...
Former Health Secretary Wes Streeting has proposed introducing a wealth tax as part of his pitch for the Labour leadership, by equalising capital gains tax with income tax www.bbc.co.uk/news/article...
Danny Fearns9Let's accept that there will be no perfect candidate for the labour leadership. The links Wes has with private health businesses, and the donations he's accepted put him in the "badly compromised" category.
Rob Miller6I don't trust a word that comes out of that lickspittles mouth.
MyrtleP4Does he mean like the Mansion Tax on properties over £2 million, VAT on private schools, iHT for wealthy landowners, abolished non-dom status, tax on private jets, increased Capital Gains Tax? Have I missed any out? All introduced by the government he's supposed to work for!
Chris Wade-Evans4Not going to help much if he has given everything we own like the NHS to his private equity mates!
Matt Payne4I've seen these lies before.
Martin is bored sometimes3He appears to be offering to even up capital gains with income tax (with exceptions for re-investment). That's not really a wealth tax.
Keith3This grifting piece of 💩 handed all our NHS data to Palantir as a gift when he resigned his position of health secretary.
Andy Smart2One of the (the only*) attractions of a Streeting premiership is that no one will be shocked or surprised when, having posed 'leftish', he lurches off into Reform-lite. *excluding, as we all should, the interests of neo-fascist tech billionaires
Terry2It’s a start but would he actually do it!
Eddy Ventolera2Do I believe him? Why does a clever man continue the hidden dismantling of the NHS, with the creation of more, shorter queues that merely lead to one another, repeated low cost tests and telephone appointments everywhere, and no treatment ever. Subcontract groups triage, test and charge in circles.
Steve 🏳️🌈🇬🇧2The problem is that he's cried wolf so many times that anything positive he offers will probably not happen.
anguslass9.bsky.social2Heard the "tax the rich" bull crap all my days and by the time I hit the grave, it still won't have materialised.
