After pensioners, will Labour now come for the wealthy?
The Independent|September 11, 2024
Remember when Peter Mandelson said Labour was "intensely relaxed about people getting filthy rich"? He made his famous remark in 1998 to a California industrialist. He's softened since, now saying he is concerned about inequality. But if Mandelson is having doubts, some members of the current leadership of his party apparently have no qualms. They are definitely not happy about people making lots of money.
CHRIS BLACKHURST
After pensioners, will Labour now come for the wealthy?

Furthermore, they’re sensing blood. The public purse is threadbare, and in their eyes, the well-off are there for the taking. While we’re not quite at the class war, “eat the rich” stage, we might as well be. They’re pushing Keir Starmer hard for a wealth tax.

The Tax Justice Network says a temporary levy on the richest households could raise £24bn a year. Sharon Graham, the leader of Unite, is urging the chancellor, Rachel Reeves, to announce a 1 per cent charge on Britain’s wealthiest 1 per cent. She points out that it would bring in vastly more money for the Treasury than the winter fuel payment cut, which has now been voted in.

The pressure comes as the G20 is also looking at the ramifications of a global minimum tax on the world’s 3,000 billionaires. In the US, the presidential hopeful, Kamala Harris, is considering a wealth tax.

In the end, it may prove inevitable. Across the globe, public finances are struggling; meanwhile, the gap between rich and poor has widened and is widening still. The idea of taking away a sliver of people’s fortunes, so little that they would barely notice, is catching on. For Starmer, elected with a thumping majority, it has obvious appeal. They would not be Labour voters suffering; the rich would scream, but the party’s popularity would almost certainly not dip.

This story is from the September 11, 2024 edition of The Independent.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the September 11, 2024 edition of The Independent.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM THE INDEPENDENTView All
Joshua is 'willing to die' in Wembley battle of Britain
The Independent

Joshua is 'willing to die' in Wembley battle of Britain

Anthony Joshua has insisted that he is ready to “give everything to be victorious” against Daniel Dubois on Saturday, as the Britons clash at Wembley Stadium.

time-read
2 mins  |
September 18, 2024
City's man for all occasions.could be named world No 1
The Independent

City's man for all occasions.could be named world No 1

Rodri may be first defensive midfielder to win Ballon d'Or

time-read
3 mins  |
September 18, 2024
Liverpool overcome poor start to beat Milan in style
The Independent

Liverpool overcome poor start to beat Milan in style

Another first for Arne Slot at Liverpool, and one that was much more significant than a debut win in this new Champions League.

time-read
4 mins  |
September 18, 2024
Guardian parent company in talks to sell Observer
The Independent

Guardian parent company in talks to sell Observer

The Guardian Media Group (GMG) is in talks to sell The Observer newspaper to Tortoise Media, a news business launched in 2019 by a former BBC executive. The media giant is in exclusive discussions to sell the world's oldest Sunday newspaper.

time-read
2 mins  |
September 18, 2024
'People can have a fantastic.second act. I'm living mine'
The Independent

'People can have a fantastic.second act. I'm living mine'

Actor and comic Omid Djalili is back for a fiery new stand-up tour. He tells Helen Coffey how he managed to channel rage into humour and why he's not leaving comedy to the young

time-read
8 mins  |
September 18, 2024
Islamist party makes shock return to Kashmiri politics
The Independent

Islamist party makes shock return to Kashmiri politics

Observers split on motivation of Jamaat-e-Islami, banned under terror laws and which boycotted elections for 30 years

time-read
4 mins  |
September 18, 2024
US rapper charged with sex trafficking and racketeering
The Independent

US rapper charged with sex trafficking and racketeering

Sean \"Diddy\" Combs, the rapper and music mogul who has faced allegations of sexual abuse, was charged with racketeering, sex trafficking and transportation to engage in prostitution, according to a federal indictment unsealed yesterday.

time-read
3 mins  |
September 18, 2024
Suspect in Trump shooting lurked for hours in bushes
The Independent

Suspect in Trump shooting lurked for hours in bushes

The gunman accused of trying to assassinate Donald Trump hid in the bushes of the former president's Florida golf club for almost 12 hours, according to officials.

time-read
1 min  |
September 18, 2024
'I am a rapist', says husband of sexually abused woman
The Independent

'I am a rapist', says husband of sexually abused woman

A French man accused of drugging his wife and recruiting dozens of strangers to rape her over a decade has declared in court: “I am a rapist, like everyone else in this courtroom.”

time-read
3 mins  |
September 18, 2024
Hezbollah vows to retaliate after pager attack kills nine
The Independent

Hezbollah vows to retaliate after pager attack kills nine

Officials in Lebanon and Syria blame Israel for the explosions

time-read
3 mins  |
September 18, 2024