Labour Thinktank Criticizes Zack Polanski's Wealth Tax Proposal as Unrealistic
Joe Dromey, general secretary of the Labour-affiliated Fabian Society, has condemned Green Party leader Zack Polanski's proposal for a wealth tax as a fantasy that would not sufficiently fund public services and would impact only the wealthiest 0.1% of the population.
Dromey framed Polanski's left-populism alongside Nigel Farage's right-populism, describing both as simplistic, unworkable solutions that Labour must expose to voters.
Highlighting Labour's recent policy achievements, Dromey cited the Renters’ Rights Act and Employment Rights Act as quietly radical steps and noted Labour's allocation of £500 million for its planned 2028 fair pay agreement. However, Fabian Society research suggests that equalizing social care pay alone would require about four times this funding.
The thinktank further stressed the issue of underfunding in social care pay, with Dromey calling for increased funding and reform to address the workforce crisis in social care.
On immigration, Dromey urged Labour to demonstrate competence and counter Reform UK's small-boat rhetoric, asserting that Reform UK does not represent the British public's views on the issue.
Following Labour's support for maintaining National Insurance cuts after Rachel Reeves’s November budget, Dromey warned that Labour could damage voter trust if it breaches commitments, such as by raising income tax.
