LABOUR would clobber Brits with new taxes if they got into power, the party’s leaders sensationally admitted yesterday.
Party boss Sir Keir Starmer refused to rule out income tax hikes if he got the keys to No10.
While his shadow chancellor Rachel Reeves said she wants to create a new “fair tax system” which would amount to a wealth tax.
She would overhaul the system so private equity bosses have to cough up income tax on their bonuses, rather than capital gains tax which has lower rates.
She said: “We should use the tax system to ask those with the broader shoulders to contribute more.”
She also vowed to scrap business rates and close a string of tax relief schemes.
Ms Reeves said: “We will carry out the biggest overhaul of business taxation in a generation, so our businesses can lead the pack, not watch opportunities go elsewhere.”
But Labour’s tax policy was immediately plunged into confusion after Ms Revees ruled out an income tax rise – only for Sir Keir to slap her down and reveal it is still on the table.
He said: “Nothing is off the table, but we don’t know what the state of the national finances will be as we go to the election.”