Labour wealth tax 'will target Home Counties': Scottish leader says party will target South East to 'redistribute across the UK'

Mail Online | 6/2/2017 | Jack Doyle, Executive Political Editor For The Daily Mail
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Labour will hammer London and the South East with new wealth taxes, a senior party figure admitted yesterday.

Scottish leader Kezia Dugdale claimed Labour would 'tax wealth in London and the South East and redistribute it across the UK according to need'.

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She said the United Kingdom was the 'means by which we redistribute wealth'.

Her comments will alarm middle-class families in and around the capital and raise concerns that Jeremy Corbyn intends to milk them to pay for a spending spree in Scotland and other parts of the country.

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The Tories said Mr Corbyn was planning 'punitive taxes for his hard-Left agenda'.

Labour's manifesto floated the idea of a wealth tax, but the party has refused to spell out how it would work.

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In France, an annual tax of up to 1.5 per cent is charged on assets including property, cars, jewellery and even furniture. It could mean an annual tax bill of thousands of pounds for those who own their home.

Labour is also considering a 'land-value tax' to replace council tax and business rates. The policy does not appear in its manifesto but is buried in the small print of an accompanying costings document.

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It would mean calculating the value of the land under all homes and businesses and charging an annual percentage.

Three weeks ago, Shadow Cabinet minister Rebecca Long-Bailey referred to a land tax when asked how the party would fulfil its spending commitments, saying: 'There's a land tax to ensure local government has sustainable funding...
(Excerpt) Read more at: Mail Online
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