Streeting calls for equal tax on income and capital gains in Labour leadership pitch
Key takeaways
- Photograph: Jeff Overs/BBC/PATax and spending Streeting calls for equal tax on income and capital gains in Labour leadership pitchMP says current system is unfair and his idea would result in a ‘wealth tax that works’
- Prefer the Guardian on GoogleFormer health secretary Wes Streeting has set out plans for a “wealth tax that works”, by equalising tax on assets and income.
- Streeting said the current system – in which capital gains tax is generally much lower than income tax – was not fair and penalised work, arguing the taxes should be equalised.
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Photograph: Jeff Overs/BBC/PAView image in fullscreen‘The wealth gap in this country has widened, the opportunity gap in the country is widening and the gap between earned income and unearned income has also widened,’ says Wes Streeting. Photograph: Jeff Overs/BBC/PATax and spending Streeting calls for equal tax on income and capital gains in Labour leadership pitchMP says current system is unfair and his idea would result in a ‘wealth tax that works’
Prefer the Guardian on GoogleFormer health secretary Wes Streeting has set out plans for a “wealth tax that works”, by equalising tax on assets and income.
Streeting said the current system – in which capital gains tax is generally much lower than income tax – was not fair and penalised work, arguing the taxes should be equalised.