Labour’s former shadow chancellor Anneliese Dodds has called on the Treasury to consider a wealth tax ahead of this autumn’s budget, warning that the government cannot avoid “big decisions” on how to fund growing public spending demands.
Dodds, who served under Keir Starmer and resigned earlier this year over the government’s decision to cut international aid, said Chancellor Rachel Reeves must confront the UK’s fiscal reality—and consider new tax measures, including on wealth, to fill a financial black hole that economists estimate could exceed £20 billion.
In her first interview since stepping down, Dodds told The Guardian that ministers must be open with the public about the scale of the challenge, especially with mounting pressure to increase defence spending while rebuilding underfunded public services.
“It’s important that we have a longer-term approach. That does mean confronting difficult questions around our fiscal position and taxation,” Dodds said. “If we’re honest about the nature of the challenge we face, we cannot duck that.”
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