The LTA spectre: Labour has already committed to a wealth tax

A wealth tax by any other name would smell as sweet

clock • 5 min read

Laith Khalaf looks at Labour's lifetime allowance restoration pledge, which he says is a wealth tax that presents a financial planning 'nightmare'

A wealth tax is categorically off the table, according to a recent interview given by shadow chancellor Rachel Reeves given to the Telegraph. In the next year or so, Ms Reeves is very likely to be dropping the "shadow" from her job title, so her comments are valuable guides to future tax policy in the UK. Also apparently off the table are increases to the top rate of income tax and capital gains tax, with Labour preferring to rely on that elusive and recalcitrant economic fairy called ‘growth' to raise the standard of public services. This is all very reasonable fiscal policy for a go...

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