London Mayor Sadiq Khan says the Labor Party’s planned wealth tax will hurt “wealth but lack of cash” and cause a “escape” for the wealthy from the UK.
- Keir Starmer outlines plans for a tax assault on homes and stocks in the event of seizure of power
- However, Mr. Khan warned about the potential knock-on effect of such a proposal.
- He also warned the Prime Minister not to hurt the Southeast with his “level-up” plans.
Sadiq Khan Workers’ planned wealth tax has said it will hurt “stock-rich but cash-poor” people and cause a “flight” of wealthy people from Britain.
Mr Keir Starmer In September, if his party belonged to the government, he warned that he would launch a tax assault on homes and stocks, warning that “people with the widest shoulders should pay.”
Homeowners do not pay the homeowner’s sales tax, but they do apply when selling other properties they own, such as villas and rental properties.
However, London Mayor Khan distanced himself from such proposals and warned of potential knock-on effects.
Sadiq Khan said workers’ planned wealth tax would hurt “stock-rich but cash-poor” people and cause a “flight” of wealthy people from Britain.
The Mayor of London also warned the Prime Minister that the “level up” plan should not cause damage to the Southeast at the same time.
He told Chopper’s political podcast: “We must always be aware of the unintended consequences of virtual tax increases.
“I am well aware of the fact that it is not me who brings wealth and prosperity to our city, but the chief executive officers of small businesses, innovators and large corporations.
“I’m not competing with Manchester, Liverpool, Edinburgh or Glasgow. I’m competing with Paris, Singapore, New York and Hong Kong. What I don’t want is from London to those global competitors. It’s a flight.
Kahn also warned his predecessor, Prime Minister Boris Johnson, that the “level-up” plan should not at the same time damage the Southeast.
Last week, the prime minister faced accusations of “betraying” the north by rejecting flagship plans to improve railroads.
Conservative lawmakers and local leaders joined the brutal backlash as the Prime Minister tried to defend the “ambitious and unparalleled” overhaul of the intercity link.
Johnson was accused of giving his key Redwall voters “scrap from the table” after the HS2 route to Leeds was abolished. Birmingham To the East Midlands Parkway Line.
The HS3 line (known as the Northern Powerhouse Rail) connecting Manchester and Leeds has also been shelved.
Sadiq Khan says Labor’s planned wealth tax will hurt “stocks are abundant but cash is poor.”
SourceSadiq Khan says Labor’s planned wealth tax will hurt “stocks are abundant but cash is poor.”