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09 July 2020 12:39

Labour backtracked after saying at the start of the week that it supported a wealth tax in principle.

Labour has abandoned its call for a wealth tax days after it urged the government to consider one. Anneliese Dodds, the shadow chancellor, said that the party was "not calling for tax rises" and warned that if combined with public service cuts they would "damage demand and inhibit our recovery". Labour backtracked after saying at the start of the week that it supported a wealth tax in principle. Sir Keir Starmer had urged ministers to consider one on Monday, telling the LBC radio station: "We are saying to the government, 'Look at the idea of a wealth tax'. We certainly support the principle that those with the broadest shoulders should bear the greatest burden." He said, however, that he would not commit to tax

Labour backtracks from wealth tax plan