Reckless Rachel Reeves is unleashing dangerous pattern of stagnation

Britain is already paying the price for Labour's war on success. Since this government took office, between 10,000 and 15,000 high-net-worth individuals have packed up and left the UK.

Now, some on the Left might sneer and say, "So what?" But here's what they're missing: the tax these individuals were paying is so substantial that it would take over half a million people on average incomes to replace it. That's not an abstract number - that's a gaping hole in our tax base, and a growing crisis for public services.

This is not just a one-off. It's part of a dangerous pattern under Rachel Reeves. The Labour Chancellor is piling taxes onto the very people who create jobs, invest in Britain's future, and pay a disproportionate share of our nation's bills. Instead of building prosperity, Labour is driving it away. And now, rather than learning from the damage already done, they appear to be considering another disastrous move - a wealth tax.

This would effectively amount to a tax on unrealised gains. It means taxing pensions, savings and houses. It would be economically incoherent and morally wrong. It punishes aspiration. It penalises investment. And it sends an unmistakable message to anyone thinking of building a life, business, or future here: go elsewhere.

The people who are leaving are not faceless billionaires; many are entrepreneurs, investors, and innovators who've built businesses, created thousands of jobs, and helped fund our NHS, schools, and infrastructure. And more will leave if Labour don't change course.
Labour's reckless economic policies are delivering stagnation, instability, and uncertainty. And now, in a desperate attempt to paper over the cracks of their chaotic and costly u-turns - including on welfare and Winter Fuel Payments - they are reportedly preparing to target private pensions and personal savings.

I urge the Chancellor to rule out such a tax immediately. Every day she refuses to do so, confidence drains further from our economy. And the same goes for the host of other promises she previously made on tax and is now refusing to repeat - as if she hadn't already broken enough promises.

A wealth tax won't just hurt the wealthy. It will hurt workers, savers and families across the country. Less investment means fewer jobs. Lower confidence means slower growth. And lost revenue means poorer public services. Everyone pays the price.
We've already had far too many taxes on wealth creation - including Labour's £25billion Jobs Tax. We need to make Britain a magnet for enterprise again - not a cautionary tale.

Only the Conservatives, under new leadership, are committed to sound money, lower taxes, and restoring Britain's place as the best country in the world to start and grow a business.

Britain doesn't succeed by taxing ambition. We succeed by backing it. Let's stop this wealth exodus before it becomes irreversible. Chancellor Reeves must act now - or be remembered as the one who sent Britain's prosperity packing.