Keir Starmer says Labour government would raid homeowners and shareholders ‘with the broadest shoulders’ to fund the NHS and improvements to social care
- Opposition leader signalled that he would look at increasing capital gains tax
- It would target income from ‘property, from stocks and shares and dividends’
- It would form part of a raft of tax change plans unveiled at Conference this week
- Sir Keir told BBC: ‘Those with the broadest shoulders should pay’
Keir Starmer set up a potential tax raid on homes and shares under a Labour Government today as he declared it was time ‘those with the broadest should pay’.
The Opposition leader signalled that he would look at increasing capital gains tax and other means in order to pour money into the NHS and improvements to the social care system is he were to enter power.
It would form part of a raft of tax change plans unveiled at the Labour Party Conference this week.
Shadow Chancellor Rachel Reeves used her speech to commit to scrapping business rates, forcing tech giants to pay their taxes and clawing back money wasted on ‘failed’ Covid contracts.
She also announced a Labour government would splash an additional £28billion every year until 2030 on the UK’s transition to going green – a total of £224billion.
Speaking about Labour’s plans for the NHS and care today, Mr Starmer told BBC Radio 4’ds Today programme: ‘We have said that those with the broadest shoulders should pay.
‘We have said that means we have to look at those that get their income from property, from stocks and shares and dividends.’
The Opposition leader signalled that he would look at increasing capital gains tax and other means in order to pour money into the NHS and improvements to the social care system is he were to enter power.
Shadow Chancellor Rachel Reeves used her speech to commit to scrapping business rates, forcing tech giants to pay their taxes and clawing back money wasted on ‘failed’ Covid contracts.
Currently people pay Capital Gains Tax at different rates depending on their taxable income
For higher rate payers it is 28 per cent for residential property and 20 per cent for other assets. For those earning less, the rate varies depending on your income, the size of the gain and where it came from.
If the tax was raised by his Labour government, Sir Keir would avoid taking a hit, after getting rid of a house he co-owns in Surrey.
He had a half-share of his parents 1930s semi-detached home in Surrey, which was put up for sale last year for £480,000 and sold in July.
The sale is in his entry on the register of MPs interests, though it does not disclose the sale price.
The records also show that shadow justice secretary David Lammy owns a rental property in Tottenham, his north London constituency, that provides an oncome of more than £10,000 a year.
Similarly Emily Thornberry co-owns a flat in Guildford, Surrey, the town where she was raised.
Shadow Housing Secretary Lucy Powell rents out a room in her London flat and is also a shareholder in New Road Management, a property management company.
Shadow Welsh secretary Nia Griffiths owns a smallholding in Camarthenshire and Scottish counterpart Ian Murray has a flat in Edinburgh.
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