Rich already being taxed properly, says minister, as Streeting calls for ‘wealth tax that works’– UK politics live
Summary
Treasury minister Lucy Rigby said that wealthy people in the UK are already being taxed fairly. Labour MP Wes Streeting proposed changing tax rules to raise more money by taxing investment profits like regular income.Key Facts
- Wes Streeting wants a “wealth tax that works” by making capital gains tax equal to income tax.
- This change could generate up to £12 billion a year.
- Lucy Rigby said the government already has fair and progressive taxes on wealth.
- Chancellor Rachel Reeves plans to announce measures to help with the cost of living.
- Reeves’s plans include free bus travel for children over the summer.
- Schools in the UK were described as leading many young people to unemployment.
- The day also includes other government statements and speeches on topics like social care and equality laws.
- A ballot will select MPs to bring forward private member’s bills in Parliament.
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