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extra wealth taxesGuardian
•84% Informative
Labour has been drawing up options for how it could raise money through wealth taxes.
The proposals include increases in capital gains tax ( CGT ) and changes to inheritance tax.
The party has been under pressure to explain how it will fund its plans for government.
Some senior figures believe that being more open about plans to raise wealth taxes would improve turnout among traditional Labour voters.
This would still raise about 2.3bn by 2029-30 , which would be at the end of the OBR ’s forecast period if it was introduced in March next year , according to a paper published by the IFS in 2023 . The same figure appears in one of the internal Labour documents seen by the Guardian . Sources said wider changes were also being considered on gifts and inheritance tax. Currently, no inheritance tax is due on gifts if they are made by a person who lives for more than seven years after the gifts are made..
VR Score
87
Informative language
87
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