Jeremy Corbyn, the former Labour leader who was banned from standing as a candidate for the party earlier this year, has taken an almighty swipe at Keir Starmer and Rachel Reeves, after it was confirmed that the pair would not look to implement a wealth tax if elected into office.
Labour leadership hammered by Jeremy Corbyn over wealth tax u-turn
Shadow Chancellor Reeves had previously suggested a tax on wealth to raise £12 billion for the economy. With the door of Number 11 Downing Street now in sight, she has rowed back from this stance, claiming that ‘growth, not taxation’ is the best way forward for Britain.
An open goal now presents itself to Reeves and her colleagues – but they won’t be committing themselves to any radical redistribution policies in the months ahead. Outlining her business agenda in The Telegraph, the senior politician outright ruled out a wealth tax.
“I’m in favour of wealth creation, and I want to see more of that in Britain. I don’t see a route towards having more money for public services that is through taxing our way there. It is going to be through growing our way there. There will be no wealth tax.” | Rachel Reeves
Wealth tax row pits excommunicated Labour leader against successor
Keir Starmer also confirmed last month that would retain the two-child benefit limit – despite growing calls from poverty campaigners for the cap to be abandoned. The controversial stance has divided politicians within the Labour Party.
It’s another questionable policy u-turn from Starmer, and it hasn’t gone unnoticed by Jeremy Corbyn. The two-time Prime Ministerial candidate ripped into Sir Keir, saying that a wealth tax could easily fund an extension to the two-child cap.
Corbyn also urged his successor to ‘side with those in need’:
“With the money raised from a 1-2% wealth tax on assets over £10 million, we could afford to scrap the two-child benefit cap SEVENTEEN times over. Politics is about choices — and we should be on the side of those in need, not those with greed.” | Jeremy Corbyn