From New to Newer Labour on Wealth Taxes (1993-2025)
When still Shadow Chancellor in August 2023 Rachel Reeves stated that a future Labour Government would not introduce a wealth tax or indeed do anything at all about taxing wealth. It rightly attracted criticism. There was and is nothing even mildly social democratic about the proposed inactivity.
It is however not new. Tony Benn noted in his diary 17th August 1993
Gordon Brown, the Shadow Chancellor, was on television saying that Labour is not a high-tax, high-spend party and certainly does not intend to penalise the rich. The most ridiculous statement ever..
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