Speaking to Sky’s Sunday Morning With Trevor Phillips, former Labour leader Lord Neil Kinnock called for a 2% tax on assets above £10 million to raise in the region of £10bn a year for the public finances – a sum Rachel Reeves could do with right now.
Sky’s Wilfred Frost asked minister Stephen Morgan if that is an option. He replied that the government’s “relentless focus” is on growing the economy, and that matters of taxation are for the chancellor.
Specifically on a wealth tax, the minister pointed out that they have already put a tax on private jets, and on the ballooning profits of energy companies. (Skynews)
