Labour's 'Dirty Dozen' Tax Raid Plan Unveiled in Damaging Leak

Secret Plot Revealed

Labour is secretly planning a 'dirty dozen' tax raid to generate billions in revenue, as a recent leak has exposed. The party is facing accusations that Shadow Chancellor Rachel Reeves intends to raise capital gains tax in an autumn Budget to boost revenues.

Rachel Reeves' Tax Hikes

Reportedly, Rachel Reeves is devising a series of tax hikes, known as the 'dirty dozen', set to be implemented in the upcoming autumn. These measures were disclosed in a report published by a Labour-supporting outlet.

Details of the Plan

Capital gains tax, which is currently levied on profits from asset sales, typically stands at 10% for goods and 18% for properties, with higher earners facing higher rates. Sources suggest that Reeves is exploring 10 to 12 measures that aim to accumulate significant revenue collectively.

Labour's Response

In response to the leak, a Labour spokesperson denied the need for additional tax increases in their plans and assured that there would be no return to austerity if the party wins the election on 4 July.

Party's Tax Pledges

While Labour has ruled out raising income tax, National Insurance, and VAT if elected, some shadow Ministers are advocating for using the raised funds to support public services.

Challenges from Tories

The Conservative Party has challenged Labour to match their commitments, including a guarantee not to raise stamp duty, shield homes from capital gains tax, and refrain from council tax revaluation.

Implications and Controversy

The leaked 'dirty dozen' tax raid plan by Labour has sparked controversy and raised questions about the party's fiscal agenda and economic strategy as the election approaches.