Labour Rule Out New Tax Levies On High-Value Homes

Labour says it will not impose new “wealth taxes” if the party wins the next General Election. Shadow Chancellor Rachel Reeves ruled out introducing new levies on high-value homes, as well as hikes to capital gains tax or top rates of income tax.

Instead, Labour’s top finance minds want to fund improvements to public services via economic growth – promising to spend “an awful lot of time with businesses” and to do “whatever it takes” to attract investment to the UK.

Party Chair Anneliese Dodds confirmed what Reeves said, telling the BBC that Labour would be “very careful with tax policy” and would seek to “rebuild” investor confidence in the UK after a recent spell of “economic chaos” under Conservative rule.

The next General Election will take place no later than 24th January 2025.