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UK Chancellor Rejects Wealth Tax as Labour Attempt Fight Back
Posted
September 29, 2025
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7:45Now PlayingChancellor of the Exchequer Rachel Reeves ruled out a UK wealth tax, while also giving one of her strongest commitments yet to abide by campaign pledges not to raise the level of several key taxes.
“We already have taxes on wealthy people; I don’t think we need a standalone wealth tax,” Reeves said in an interview with Bloomberg TV at the Labour Party’s conference in Liverpool on Monday, citing capital gains tax and inheritance tax. “I’m not even sure it would work.”
Rachel Reeves spoke to Bloomberg's Lizzy Burden for Bloomberg Radio and TV at the Labour Conference.
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