Wes Streeting calls for equal tax on income and capital gains in Labour leadership pitch

Wes Streeting: ‘The wealth gap has widened, the opportunity gap is widening and the gap between earned income and unearned income has also widened.’ Photograph: Jeff Overs/BBC/PA

The former health secretary Wes Streeting has set out plans for a “wealth tax that works”, by equalising tax on assets and income.

Streeting said the current system – in which capital gains tax is generally much lower than income tax – was not fair and penalised work.