Call for Wealth Tax Post-Election by Key Blair Adviser

Patrick Diamond, a former adviser to Tony Blair and Gordon Brown, urges Keir Starmer's Labour Party to impose higher wealth taxes if they win the election. Diamond, with Colm Murphy, suggests radical tax reforms to address economic inequality and fund public investments. Despite Labour’s current stance, higher wealth taxes could prove both ethical and economically beneficial.

Patrick Diamond, former adviser to Tony Blair and Gordon Brown, urges Keir Starmer’s Labour Party to implement higher wealth taxes if they win the general election.

Writing in the Observer, Diamond alongside Colm Murphy of Queen Mary University of London, emphasizes the need for radical tax reforms due to potential shortfalls in expected economic growth.

They propose shifting tax burdens from income to unearned wealth and capital to address economic inequality and fund public investments.

Despite Labour currently having no plans for a wealth tax, Diamond argues for tax reforms that could raise significant revenue while maintaining fiscal restraint, a position supported by Shadow Chancellor Rachel Reeves.