Wes Streeting calls for equal tax on income and capital gains in Labour leadership pitch

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MP says current system is unfair and his idea would result in a ‘wealth tax that works’

The former health secretary Wes Streeting has set out plans for a “wealth tax that works”, by equalising tax on assets and income.

Streeting said the current system – in which capital gains tax is generally much lower than income tax – was not fair and penalised work.