Streeting Backs Hiking UK Capital Gains Levy to Match Income Tax

UK leadership hopeful Wes Streeting has come out in favor of equalizing the capital gains and income tax rates, in the latest sign of broadening support in the ruling Labour party for a massive increase in levies on investments by the highest-earners.

The former health secretary, who resigned from the cabinet last week ahead of a possible run for Prime Minister Keir Starmer’s job, backed the policy that some economists say could raise as much as £12 billion ($16.1 billion) a year. The opposition Liberal Democrats and the Green Party have embraced similar plans, although Streeting stopped short of endorsing ...