The left-wing think tank the Resolution Foundation has argued today that the government should, on top of taxing high-earners, go for broad tax rises that collect in large part from middle earners. They’ve squeezed the rich as much as they could, now onto the rest…
This argument has been bubbling in left-wing economic circles for some time. In its new paper the Resolution Foundation, one of Labour’s favourite think tanks, claims:
The paper is more realistic than the popular wealth tax fantasies peddled by slow thinkers. It’s a sign of the times…
The think tank holds up Reeves’ manifesto-breaking National Insurance rise as a model. The left wants the big three raised now…
Former Treasury minister and adviser to Burnham in the Makerfield campaign Lord Jim O’Neill, who has turned down a role in his government, said Burnham’s first statement Commons was:
“The last thing investors wanted to hear… gilt yields have risen by a 0.25% in one day, which is a lot. We’ve not had that since Liz Truss days… If your country is under the focus of ‘can they come up with a sensible fiscal strategy’ on a day when the markets think ‘well no, you’re not showing any sign of it’ you’re going to have a tough day…if it stays like this your mortgage rate is going up.”