The levels of enthusiasm are really off the charts here for a self-described Gooner…
Burnham has had varied views on tax policy. It’s almost as if he doesn’t know what he is talking about and will say anything…
When he was Chief Secretary to the Treasury he defended the lower capital gains tax rates introduced by the Blair government. He said that Labour’s reforms represented “the right balance between encouraging enterprise & investment, maintaining the UK’s international competitiveness and delivering a modern and fair tax system.” A sound Blairite…
Speaking in the Commons he said:
“rates of capital gains tax in 1997 were considerably higher than they are today and higher than they will be after revisions are made. Secondly, at 18%, 18 pence in the pound, that stands good comparison with capital gains rates of taxation around the world. It is hard to make a statement about direct comparability because lots of other systems do use differential rates according to the assets being disposed of, but, having checked this out in detail, I am confident in saying that our rates stand good comparison.”
Burnham’s latest pitch is to tax wealth. He said last year in a characteristic statement: “We’ve overtaxed people’s work and we’ve undertaxed people’s assets and wealth and that balance should be put more right.” Specifically, he said in 2021 he would raise “a range of wealth taxes – such as a higher rate of capital gains tax.” Britain already has the highest wealth taxes in the OECD – pushing them higher would be cataclysmic…
A spokesman for the low tax campaign Cut My Tax said: “Given Mr. Burnham attacked the high CGT rates maintained by the Tories and praised Blair’s lower rates for promoting enterprise & investment, it’s rather strange that he now promotes a CGT hike that will both discourage investment & cut the tax take.” Dr Laffer would like a word…
Angela Rayner has taken a £25,000 donation from the wife of a oil and gas chief executive who has been a strong critic of Labour’s oil and gas policy. No one tell Ed Miliband…
In the latest register of interests Rayner is shown to have received “£25,000 towards running costs for the Office of Angela Rayner Limited” from Soha Riyadh Tawfiq Alsadek on 8th April this year.
Her benefactor, otherwise known as Suha Bseisu, is the wife of Amjad Bseisu. Bseisu, an Emirati, is current Chief Executive and founder of Enquest, an oil exploration and production company founded in 2010. It posted revenue of £1.1 billion in 2025…
Bseisu and his oil and gas company are very strong critics of Labour’s oil and gas policy:
Bseisu and his wife jointly run a scholarship foundation for students in the Middle East to study globally. This year EnQuest said its 2025 tax charge was heavily distorted by the non-cash impact of the two-year oil and gas windfall tax extension, creating a $123.9 million charge. It was recently fined £16.5 million for failing to decommission 33 defunct North Sea wells. Ouch – any responsible CEO would want the policies changed…
Rayner has been raking it in from speaking engagements but despite telling everyone about it there is still no sign of her promised memoir. Nor for that matter has any podcast materialised. But at least she has some cash to run her bid for a top job…
Last night the government waived some Russian oil sanctions to allow imports of diesel and jet fuel from Russian crude processed in third countries. Indian products mostly…
Exchequer Secretary to the Treasury Dan Tomlinson could not say he was comfortable with the move on Sky News when asked but did say:
“There’s a whole range of other sanctions that have been announced today by well yesterday by the government yesterday by the government because we do have to make sure that we are standing up to Putin’s aggression and making sure that we’re protecting Ukraine and at the same time when there’s a very significant international conflict happening when we do need to make sure that we keep security and supply across the world we’re looking at time limited changes on some very specific aspects.”
Ed Miliband has directed the government to shut down all North Sea oil via the King’s Speech. A decision on Rosebank is still delayed. Refineries are being closed down and the windfall tax on oil and gas remains at a record high after Labour hikes. Last night Labour MPs voted against a Tory motion to ease action on the North Sea and British refineries…
Foreign Affairs Committee chairman Emily Thornberry said: “People feel very let down… Just because other countries are behaving in the wrong way does not mean that we should join them. It really doesn’t. We are Britain, one of Ukraine’s strongest allies, and we have led the fight against Russia.” Friendly fire…
Boris Johnson said: “The Kremlin will, I am afraid, be laughing today at the incompetence and stupidity of the Starmer government. This is a betrayal of Ukraine – and will do nothing to help British consumers.” Is this what Labour MPs expected to be doing in government…
Paula Barker, Liverpool Wavertree MP backing Andy Burnham, told Times Radio there wouldn’t be trouble from the markets under Burnham:
“The markets will have to fall in line.”