#wealth-taxation

#wealth-taxation

Today, I'm releasing the City's preliminary budget. After years of fiscal mismanagement, we're staring at a $5.4 billion budget gap - and two paths. One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between our city and state. The other, a last resort: balance the budget on the backs of working people using the only tools at the City's disposal,

When billionaire venture capitalist Vinod Khosla publicly branded Rep. Ro Khanna a "commie comrade" over the weekend, it was more than a personal jab - it was a sign of how fiercely a new proposal to tax California's billionaires is dividing Silicon Valley and the state's political class. The proposal, which would impose a one-time "emergency tax" on the net worth of California residents worth more than $1 billion, is roiling some of the Bay Area's havens for the ultra-wealthy.

Caroline was a lone voice in parliament, she says. But there are four of us so we can share responsibilities. We each shadow six government departments. Berry's portfolio covers crime and policing, justice, transport, work and pensions, culture, media and sport and democratic standards. We absolutely have to be ready if an issue comes up. There are some issues where if a Green isn't in the chamber asking a question, that question won't be asked.

Yesterday the chancellor, Rachel Reeves, delivered a Labour budget. People have been asking for Labour's purpose and values to be more clearly expressed. Through the choices made a shift to a fairer tax system, targeting wealth to pay for tackling child poverty, good public services and the cost of living we have clearly set out what we stand for. That's why Labour MPs cheered in the Commons, and it's why we are up for the fights to come.

Britain's borrowing costs are rising faster than any other G7 country, with long-term debt yields hitting their highest level in nearly three decades amid investor unease over Labour's economic strategy. The yield on 30-year gilts - the return investors demand for lending to the UK government - climbed to 5.64% on Monday, a level not seen since 1998. The surge followed a reshuffle of Sir Keir Starmer's senior economic team, which brought advocates of wealth taxation into the heart of Downing Street.