Rachel Reeves said a Labour government would not introduce higher levies on property, capital gains and top earners.
Shadow chancellor Rachel Reeves has faced a backlash for dropping support for a wealth tax
She also confirmed that Sir Keir Starmer’s leadership pledge to increase the 45p top rate of income tax is off the table, as the Labour leader had previously indicated. Left-wing pressure group Momentum said on X, formerly known as Twitter: “Four people in this country have more wealth than *20 million Britons*.“This is a political choice to favour big business & the 1% over ordinary people. Shameful.”
Confirming the decision, Ms Reeves told The Telegraph: “I don’t see a route towards having more money for public services that is through taxing our way there.
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