Will rich people leave if we tax them?

Does Labour’s manifesto show it doesn’t want to tax the rich?

This analysis reveals an awkward implication: does Labour’s manifesto show it doesn’t want to tax the rich?

The issue arises in the graphs towards the end of the following Sky News video, showing that Labour’s tax and spending plans this year are much more… modest? … than in 2019 and 2017:

We can see that Labour’s tax and spending plans are also lower than those of the Tories and Liberal Democrats this year.

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So the other parties think the money is there. We have no reason to believe there is much less money in the economy than there was in 2019 or 2017.

In fact, there should be more money washing around than before the last election, considering the amount the Tories spent during the Covid-19 crisis.

But Labour is planning to tax less, and spend less.

Is this because Labour is now averse to taxing the rich?


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