Support for Rishi Sunak's Smoking Ban
Rachel Reeves, Shadow Chancellor of the Exchequer, announced at the Labour conference in Liverpool that the party will support Rishi Sunak's plan to ban young people from smoking. She described it as the "one sensible thing" the Tories proposed at their annual gathering in Manchester.
Crackdown on Private Schools
In her speech, Reeves declared a major crackdown on private schools. She plans to cut tax breaks and increase parents' fees by an additional 20%. Reeves also challenged Sunak to a fight over who has the most aspiration for children.
Banning Ministers from Private Jets
Reeves pledged to ban ministers from traveling on private jets. This proposal aims to reduce government spending and promote financial responsibility.
New Fiscal Law
Reeves promised to introduce a new fiscal law that would require any government implementing "permanent and significant tax and spending changes" to undergo an independent forecast from the unelected Office for Budget Responsibility.
New National Wealth Fund
Labour plans to create a National Wealth Fund that will leverage £3 of investment for every £1 of taxpayer money. The aim is to drive down bills, create new jobs, and support British industry.
Abolishing Non-Dom Tax Status
Labour reaffirmed its promise to abolish non-dom tax status and invest the billions they expect it to generate in increasing the number of doctors and nurses in the NHS. Reeves emphasized that those who make their homes in Britain should pay their taxes here as well.
Affordable Housing and Homeownership
Reeves outlined plans to ensure that 70% of British households become homeowners. To fund the construction of affordable homes, Labour aims to raise stamp duty charges on foreign buyers. Reeves concluded her speech by stating that Labour is the party of builders, not blockers.
