https://morningstaronline.co.uk/article/tax-the-super-rich-instead-of-slashing-services-labour-told

Chancellor Reeves’ planned public spending cuts will ‘open the door’ for Reform UK, McDonnell warns as campaigners get set to rally outside the Treasury

TAX the super-rich instead of slashing services, Chancellor Rachel Reeves was told today, on the eve of her Commons statement, expected to announce more public spending cuts.

Campaigners from a range of charities and voluntary organisations are set to rally outside the Treasury this evening to demand a wealth tax instead of “austerity with a red rosette” in the words of a leading trade unionist.

And former shadow chancellor John McDonnell, presently suspended from the Labour whip, has warned that Ms Reeves was in danger of making Labour “just another austerity party” if she missed a last chance to change course.

The wealth tax option is growing in political popularity following recent announcements of a £5 billion cut in disability benefits and huge cuts to overseas aid to fund new arms spending.

It is backed by the TUC and a broad range of Labour MPs.

Just a 2.5 per cent tax on assets over £10 million could raise £36bn annually, according to Greenpeace’s research.

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https://morningstaronline.co.uk/article/tax-the-super-rich-instead-of-slashing-services-labour-told