A Taxing Issue: Streeting's Proposal for a Wealth Tax Wes Streeting, the former health secretary and Labour party leadership contender, is calling for equalization of tax on income and capital gains.
This proposal aims to address the systemic unfairness in the current system, where those with wealth are allowed to accumulate more of it.
The existing tax structure, which generally imposes lower rates on capital gains than income tax, has been criticized for penalizing work.