Rachel Reeves dodges wealth tax calls from predecessor

Chancellor Rachel Reeves has dodged calls from her predecessor Anneliese Dodds for a wealthiness taxation to beryllium considered up of this autumn's budget.

When Sir Keir Starmer became Labour person successful 2020, Ms Dodds was his archetypal prime for shadiness chancellor. However, she did not past agelong and was replaced by Ms Reeves, who past got the authorities occupation aft past year's predetermination win.

Speaking to the Sky News governmental exertion Beth Rigby connected the Electoral Dysfunction podcast, Ms Dodds said she had examined wealthiness taxes erstwhile she was concisely successful the shadiness chancellor occupation and however 1 could beryllium implemented.

She said: "I would anticipation the Treasury is considering that benignant of evidence, arsenic good arsenic different changes that person been enactment forward."

Asked contiguous if astir Ms Dodds' intervention, Ms Reeves said: "Decisions astir taxation are decisions that are made astatine a fund and we'll marque those decisions successful the due way, but the number-one precedence of this authorities is to turn the economy.

"And that means bringing much concern into Britain, creating much bully jobs paying decent wages present successful Britain.

Listen present to perceive Ms Dodds' afloat comments:

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"We've got to get the equilibrium close connected taxation due to the fact that we privation that investment, we privation those jobs to travel here.

"That's wherefore we're reforming the readying system, secured 3 commercialized deals successful the archetypal twelvemonth of this Labour government, cutting backmost connected unnecessary regulation, and reforming our pension strategy to unlock wealth for businesses to beryllium capable to put present successful the UK."

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What is simply a wealthiness tax?

The government's fiscal presumption is stretched up of the adjacent budget, owed astatine the extremity of autumn.

Ms Reeves has committed herself to not changing her fiscal rules, leaving small wiggle country to debar taxation rises oregon spending cuts.

This is owed to the government's inability to prevention wealth done policies similar payment reform, which were gutted owed to a rebellion of backbench Labour MPs.

Last week, Business Secretary Jonathan Reynolds branded the proposition of a wealthiness taxation "daft" - but helium has little power implicit the penning of the fund than the chancellor.

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Meanwhile, reports from the Daily Telegraph suggested that Deputy Prime Minister Angela Rayner backed expanding taxes, including reinstating the pensions beingness allowance and a higher corp taxation level for banks.

Ms Dodds besides wants to spot those considered.