Streeting calls for equal tax on income and capital gains in Labour leadership pitch
Wes Streeting has proposed equalizing tax rates on income and capital gains as part of his Labour leadership pitch. He argues that the current tax system is unfair and penalizes hard work, suggesting that this reform could generate significant revenue. Streeting emphasizes the need for a wealth tax that works, aiming to address the growing wealth and opportunity gaps in the UK.
- ▪Wes Streeting believes the current tax system unfairly penalizes work by taxing capital gains at lower rates than income.
- ▪He proposes that capital gains tax rates should mirror the three bands of income tax, potentially raising up to £12bn a year.
- ▪Streeting warns that Labour must unite under a single leader to effectively challenge Reform UK and address internal divisions.
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‘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/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 spendingStreeting 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’ UK politics live – latest updates Alexandra Topping Political correspondent Thu 21 May 2026 04.45 EDTSharePrefer the Guardian on GoogleFormer health secretary…
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