

Mike Taulty
27.4K posts

@mtaulty
"As through this world I've wandered, I've seen lots of funny men. Some will rob you with a six-gun, and some with a fountain pen". (Woody, 1940)




🔴 Wes Streeting has pledged to introduce a wealth tax if he is elected Labour leader in a fresh challenge to Sir Keir Starmer Read the latest on our coverage of the Labour leadership contest at the link below ⤵️ telegraph.co.uk/news/2026/05/2…


Wes Streeting has this morning set out his tax plans - specifically bringing capital gains tax into line with income tax He says that the current system is unfair because it penalises work Higher or additional rate taxpayers will pay 24% on gains in the current financial year. Streeting said that the rates should mirror income tax bands - so 40% for higher rate taxpayers and 45% for additional rate taxpayers He says that the approach could raise £12billion a year Streeting said: “A member of my family is a cleaner in Lancashire. She pays a higher tax rate on her salary than her landlord pays for the growing value of the home she lives in. She slogs her guts out, he puts in far less effort, yet the state rewards him more than her. And we wonder why people are angry. “The system is penalising work. It’s not fair and it’s bad for our economy. We need a wealth tax that works. A pound made from simply owning assets should not be taxed less than a pound made from a hard day's work. We can do it in a way that is pro-growth, pro-entrepreneur and pro-work.”




Wes Streeting has this morning set out his tax plans - specifically bringing capital gains tax into line with income tax He says that the current system is unfair because it penalises work Higher or additional rate taxpayers will pay 24% on gains in the current financial year. Streeting said that the rates should mirror income tax bands - so 40% for higher rate taxpayers and 45% for additional rate taxpayers He says that the approach could raise £12billion a year Streeting said: “A member of my family is a cleaner in Lancashire. She pays a higher tax rate on her salary than her landlord pays for the growing value of the home she lives in. She slogs her guts out, he puts in far less effort, yet the state rewards him more than her. And we wonder why people are angry. “The system is penalising work. It’s not fair and it’s bad for our economy. We need a wealth tax that works. A pound made from simply owning assets should not be taxed less than a pound made from a hard day's work. We can do it in a way that is pro-growth, pro-entrepreneur and pro-work.”



I promised our analysis of the £5m gift to Nigel Farage would annoy everybody. The verdict? He probably doesn't owe any tax. Why? Because "campaigning for Brexit" isn't a taxable trade, and genuine gifts aren't income. But there are risks for him. Thread:


"I LOVE OUR COUNTRY...AND ONE OF THE THINGS I LOVE IS GOOD MANNERS" Chancellor Rachel Reeves confronts an angry heckler moments ago in a petrol station in Leeds









JD Vance tells a Polish reporter he's "overreacting" to news that Trump is scrapping a planned deployment to his country and tells him to "look in the mirror"









Makerfield was Andy Burnham’s back up plan. For Robert Kenyon, it’s his home. This battle will be David Vs Goliath.




One of the most effective bits of political communication on the left I’ve seen in a long time. A message and a powerful messenger.