Labour’s wealth tax proposal is deeply flawed

Will Labour ever stop pushing for punitive taxation? Not content with gifting the Conservatives an 80 seat majority in December, the supposedly more moderate Labour party under Keir Starmer is already dreaming up ways it can extract large sums from our pockets. Shadow Chancellor Anneliese Dodds floated a ‘wealth tax’ at the weekend, so that the burden of paying for the Covid 19 crisis might fall upon the ‘very best off people’. Except it won’t be the very best-off people who get whacked by a wealth tax, as she should surely know. The highly mobile global super rich wouldn’t hang around for five minutes after a Labour government announced a

Coronavirus is straining an already fractured EU

When EU finance ministers ended their crisis meeting this morning, they had spent 16 hours trying to establish what collective help, if any, they wish to offer to the countries most affected by the epidemic: Spain and Italy. They agreed on not a thing. Instead, the meeting broke up acrimoniously with Italy, Spain and France demanding that the European Central Bank issue ‘coronabonds’ to help finance economic recovery – while Germany, the Netherlands and others resisted. So we see the EU split along the same lines as did the 2008/09 crisis, and indeed along the same fault lines that have been growing ever wider over the past three decades. The