'My children left Britain when Labour was elected' | LBC
July 7, 2025
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8:41James O’Brien challenges caller’s defence of the super rich | LBC Debate
5:39Now Playing'My children left Britain when Labour was elected' | LBC
YouTube Description
as posted by the channelLord Kinnock, who was Labour leader from 1983 to 1992, told Sky News last weekend that imposing a 2% tax on assets valued above £10 million would bring in up to £11 billion a year. This lunchtime, No 10 refused repeatedly to rule it out.
The Prime Minister's spokesperson insisted they could not write a future budget, but pointed to the Chancellor's previous words where she said they were "not interested" in such taxes.
It's understood the Treasury is sceptical about the idea of wealth taxes - but Rachel Reeves has to fill a fiscal black hole of up to £30 billion ahead of the next budget.
Caller Ran, a small business owner, argues that he may leave the country if he's taxed any higher, and says his children already made the move.
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#shelaghfogarty #taxes #wealth #entrepreneurship #politics #ukpolitics #caller #smallbusiness #LBC
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