Starmer has been gearing the nation up today for a “painful” budget this October, once again dodging the question of wealth taxes, particularly a capital gains tax raid. He insists that “broader shoulders should bear the heaviest burdens” to fill the so-called black hole. Meanwhile, businesses and landlords are scrambling to sell up to avoid the looming raid, and green energy investors are hitting pause on their plans, spooked by the prospect of Reeves’ Autumn Statement on the eve of Halloween…

With capital gains tax raids in sight, private investors are getting cold feet. NatPower UK’s CEO, who promised to pump £10 billion into UK green energy, says investors are stalling due to the expected tax hikes:

“I’m talking with investors and they are definitely considering and waiting for decisions to be made so that they can make their own decisions. For infrastructure investors in the energy transition, it is the capital gains tax that is particularly relevant.”

Labour’s been pushing the narrative that their costly GB Energy plan will be bankrolled by the private sector, sparing taxpayers the cheque to reach Net Zero, though as Guido’s flagged before, the numbers don’t add up. Labour cutting their nose despite their face on capital gains tax could force them into yet another policy U-turn. If private investors bolt, “working people” will be left footing the bill to meet Net Zero targets—or more likely, the 2030 goal will be quietly shelved. The latter might be the better option…