Overview

• The TUC argues that wealth taxes are needed to deliver sustained funding for public services and infrastructure, warning that cuts would risk future growth and public trust.
• Hold Sway polling commissioned by the TUC shows 54% of voters back taxes on big corporations and the wealthiest individuals as an alternative to spending cuts.
• Support for targeted levies is high, with 67% in favour of an annual wealth tax on estates over £10m, 63% backing a windfall tax on banks and 50% supporting increased capital gains tax.
• Deputy Prime Minister Angela Rayner and other Labour figures have pushed for eight separate wealth tax measures and resisted proposals for departmental budget cuts.
• The TUC has challenged the Office of Budget Responsibility’s forecasting role and called for a review to allow greater flexibility for public investment.