Key facts
- Louise Haigh proposed increases to capital gains tax.
- Louise Haigh proposed increases to inheritance tax.
- Louise Haigh called for loosening fiscal rules.
- Louise Haigh suggested increased government borrowing.
- Andy Burnham is set to deliver a major economic strategy speech.
- Lucy Powell suggested Ed Miliband would be a suitable chancellor.
- Lucy Powell acknowledged potential political risks for Miliband as chancellor.
- Lucy Powell acknowledged potential market skepticism for Miliband as chancellor.
- Senior Labour figures are downplaying public appetite for a general election.
- Senior Labour figures emphasize focusing on governing.
- Polling data indicates mixed views on a general election.
Senior figures within the Labour Party are advocating for substantial reforms to the United Kingdom's tax system. Louise Haigh, a top adviser to Andy Burnham, has proposed increasing capital gains and inheritance taxes. She also suggested loosening current fiscal rules to permit higher levels of government borrowing. These proposals are set to be discussed ahead of a significant economic strategy speech by Burnham.