Labour source outlines UK economic plans, criticizes tech focus
6 reported
A credible Labour source has provided details on the UK’s economic direction, including a promise to make Wes Streeting Chancellor for not running against the leadership. The source reports that capital gains taxes would be raised to match income tax, with a possible exit tax. The economic focus would be on devolution and state ownership of cost-of-living essentials such as energy, water, and transport. The source criticizes the lack of focus on AI or tech, noting that higher capital gains and an EIS/SEIS-style relief for backing British businesses are the only tech-related measures. The source states that startups now incorporate in Delaware and raise on SAFEs, and that out of 60-plus angel investments, only two were eligible for such relief. The source concludes that the UK is not improving.
What’s reported
A credible Labour source reported that Wes Streeting was promised the Chancellorship for not running.
Capital gains taxes would be raised to match income tax, with a possible exit tax.
Economic focus includes devolution and state ownership of energy, water, and transport.
No specific AI or tech policies are mentioned beyond higher capital gains and an EIS/SEIS-style relief for backing British businesses.
The source states that startups now incorporate in Delaware and raise on SAFEs, and that only two of 60-plus angel investments were eligible for the relief.
The source says the UK is not improving.
Key figures
Wes Streeting (mentioned as being promised Chancellorship)
Andy (mentioned as not grasping tech’s role)
Starmer (mentioned as losing business support after a disastrous first budget)
Sources: marginalrevolution.com
