Is Keir Starmer teasing a wealth tax?

Are Keir Starmer and Rachel Reeves softening on a wealth tax? In this clip from the PoliticsJOE podcast (still available in full on audio platforms), Ed, Oli, and Seán unpack the signals coming from Downing Street before the much-speculated-on autumn budget.

After former Labour leader Neil Kinnock publicly backed a 2% tax on assets over £10 million, pressure has mounted on Chancellor Reeves to find bold ways to plug the UK's £22 billion fiscal black hole. Number 10 hasn’t ruled out targeting the wealthiest, but they haven't necessarily ruled it in either. Are Labour really prepared to break with the cautious tax promises they made on the campaign trail? Might Reeves break her iron financial rules?

The boys touch on Starmer’s past rhetoric about "broadest shoulders", and whether Reeves feels politically cornered. Despite previously ruling out a wealth tax, Labour’s options have narrowed after last week's welfare rebellion over PIP payments.

Plus, they debate the moral case for taxing the ultra-rich, the feasibility of wealth levies versus inheritance tax, and whether the threat of 'wealth flight' is exaggerated, or at all credible.

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