Shadow chancellor

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