Wealth taxes for example 2% on wealth above £10 million is very popular with public. Why is Labour not considering it at all? Given that in their manifesto they have ruled out increases in income tax, NIC, and VAT, wealth tax would be a great way to generate more tax money instead of requiring cuts to winter fuel payments or increase in bus fare cap or fuel duty.

https://www.change.org/p/we-need-wealth-taxes-on-the-super-rich-not-more-cuts-in-the-autumn-budget

"I will be presenting this petition in Parliament on Wealth Taxes ahead of the Budget on 30 October, please add your name.

We believe that in the Budget on 30 October 2024, there should be no more cuts or austerity measures.

Instead, we believe that the very wealthiest in society should be the ones to pay to fix the damage caused by the last Conservative Government and to fund the investment our public services desperately need.

We call for a package of progressive taxes at the Budget, targeting the wealthy and those corporations that have done so well while millions of ordinary people have faced ever greater hardship including:

A 2% Wealth Tax on assets over £10 million, which would raise up to £24 billion annually Equalizing Capital Gains Tax with Income Tax rates so that the wealthy few pay the same tax rates as ordinary workers rather than benefiting from lower tax rates. This would generate an additional £17 billion Ending state subsidies to fossil fuel giants and closing loopholes in the oil and gas windfall tax, raising another £4 billion These measures would generate an additional £45 billion per year, providing vast resources to rebuild our public services, boost people’s incomes and invest in a higher-wage economy

We believe it is clear you cannot solve the deep problems caused by years of cuts and austerity with yet more cuts and austerity. Instead, we need to tax those whose wealth has skyrocketed while the vast majority of people have faced declining living standards, stagnating wages, and public services cut to the bone."

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It's Budget week.

Rachel Reeves takes to the dispatch box on Wednesday for the new government's hotly awaited first fiscal event. Here's a list of what we might expect to hear from the chancellor.

Great British Energy takes another step towards becoming a reality on Tuesday.

MPs debate the bill at report stage and third reading. Lots of amendments have been tabled, including making it a priority to reduce energy bills by at least £300 and setting a goal of upholding human rights in energy supply chains. The speaker will decide which get debated.

And Tuesday also brings the first ten minute rule motion of this Parliament.

Alberto Costa will re-introduce a long-standing proposal on microplastics. He'll have ten minutes to present it, and if MPs don't vote it down the bill goes to second reading.

MONDAY 28 OCTOBER

No votes scheduled

TUESDAY 29 OCTOBER

Microplastic Filters (Washing Machines) Bill
Requires manufacturers to fit microplastic-catching filters to new domestic and commercial washing machines, among other things. Ten minute rule motion presented by Alberto Costa.

Great British Energy Bill – report stage and 3rd reading
Applies to: England, Wales, Scotland, Northern Ireland
Establishes Great British Energy, a new, publicly-owned energy production company which will own, manage, and operate clean power projects. It will also help to get newer technologies such as carbon capture and hydrogen off the ground in order to make them commercially viable.
Draft bill (PDF) / Commons Library briefing

WEDNESDAY 30 OCTOBER

The Budget
The chancellor delivers her Budget, followed by debate.

THURSDAY 31 OCTOBER

Budget debate
Continued.

FRIDAY 1 NOVEMBER

No votes scheduled

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