Closing post
Time to wrap up, here are today’s main stories:
Labour drafts options for wealth taxes to ‘unlock’ funds for public services
The Labour party has been drawing up options for how it could raise money through extra wealth taxes to help rebuild Britain’s public services if it wins the general election, according to sources who have spoken to the Guardian.
The proposals under consideration include increases in capital gains tax (CGT), first revealed by the Guardian two weeks ago, that could raise £8bn.
Another option under discussion could lead to significant changes to inheritance tax. The measure would make it more difficult to “gift” money and assets, such as farmland, tax free. Together with CGT increases it could raise up to £10bn in revenue, according to one document seen by the Guardian.
A senior Labour source said:
“We are starting from ground zero with our public services and infrastructure. We have to show we are serious about borrowing and raising revenue from taxes if investors are going to walk in step with us. These measures are part of unlocking wealth and putting it to work.”
Updated
