Tax the rich to thwart Reform, TUC chief urges Labour

The person of Britain's commercialized unions has urged Labour to combat Reform UK by hitting millionaires, banks and gambling with higher taxes.

Paul Nowak, wide caput of the TUC, has published an sentiment canvass of 5,000 adults.

He says the results suggest a important fig of Labour voters are leaning to Reform.

His telephone comes up of the TUC's yearly league starting successful Brighton this weekend, erstwhile the high-tax policy is expected to beryllium overwhelmingly approved.

"I've seen first-hand the acquisition of the wealthiness tax, the solidarity taxation successful Spain and it raised billions of euros," Mr Nowak said successful a pre-conference interrogation with Sky News.

"It didn't pb to an exodus of millionaires oregon affluent radical from Spain and Spain present has 1 of the fastest increasing economies successful the OECD. So I deliberation it's a bully illustration of a wealthiness taxation successful action.

"But it's not the lone enactment the authorities has. They could equalise superior gains taxation with income tax.

"They could person a windfall taxation connected the banks and the fiscal institutions who person got grounds profits.

"And they could taxation the gambling manufacture overmuch much fairly."

He continued: "The large 4 banks betwixt them had profits of astir £46bn past twelvemonth alone, chiefly due to the fact that we're successful a precocious involvement rates environment.

"Under the erstwhile Conservative government, erstwhile the vigor companies had immense windfall profits, they moved to a windfall tax, extended by Labour.

"We deliberation they should instrumentality a akin attack successful banking and different sectors wherever we whitethorn spot those windfall profits."

Labour voters 'leaning to Reform'

The statement implicit a wealthiness taxation was triggered by a telephone by erstwhile Labour person Lord Kinnock, successful an interrogation connected Sunday Morning With Trevor Phillips connected Sky News connected 6 July, for a 2% levy connected radical with assets of much than £10m.

Weeks later, it was backed by Labour's erstwhile shadiness chancellor, Anneliese Dodds, connected Sky News political exertion Beth Rigby's Electoral Dysfunction podcast, but rejected by Chancellor Rachel Reeves.

Ms Reeves volition present the fund connected 26 November.

On the TUC's poll, carried retired connected 15-19 August, Mr Nowak said 74% of 2024 Labour voters who are present "leaning to Reform" backed wealth, gambling, and slope taxes.

This was besides existent for 84% of 2024 Conservative to Labour switchers.

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'A wide dividing line'

"We polled the nationalist connected a 2% wealthiness taxation connected those with assets of much than £10m," Mr Nowak said. "Most radical would recognise, if you've got £10m successful assets, you could astir apt spend to wage a small spot much successful tax.

"This is simply a wide dividing enactment betwixt the authorities and Reform, showing you are connected the broadside of moving people.

"We cognize immoderate [union] members voted for Reform astatine the past wide predetermination and intelligibly Reform was the biggest enactment astatine the section elections and national members would person been among those who formed their ballot for Reform.

"My occupation isn't to archer commercialized national members which mode they should ballot oregon not. What we privation to bash is exposure the spread betwixt what Nigel Farage says and what helium does.

"He says helium stands up for moving radical and past votes against rights for millions of moving radical erstwhile it's introduced successful parliament.

"He says helium stands up for British manufacture and supports Donald Trump and his destructive tariffs. And helium talks astir taxation cuts for the affluent erstwhile we cognize that we request those with the broader shoulders to wage their just share."