Labour MPs press Keir Starmer to set out ‘wealth tax’ plans

A man looks at expensive watches in a shop window in Mayfair, London. Rich people have benefited from ‘almost an explosion of wealth’, Credit Suisse has said. Photograph: Sarah Lee/The Guardian

The Labour leader, Keir Starmer, is under pressure from campaigners, unions and his own MPs to set out plans for “wealth taxes” on the richest in society in order to support public services and help the poorest through the cost of living crisis.

As the government prepares to cut spending to fill an estimated £35bn black hole in the nation’s finances, calls are growing for higher taxes on the super-rich, many of whom have seen their fortunes soar during the pandemic.