The UK Government is looking to plug up a multi-billion dollar financial hole - leading some to speculate about the possible introduction of new taxes.
Former Labour leader Neil Kinnock has advocated for the Government introducing a tax on wealth.
UK correspondent Enda Brady says this suggestion has prompted backlash, with experts claiming wealth taxes have historically never worked.
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Speaker 1 (00:00):
UK europe correspondent in the Brady with us tonight in
the Good Evening. Good morning to.
Speaker 2 (00:03):
You, hey Ryan, good to speak to great.
Speaker 1 (00:06):
To speak to you too. Now we've seen the tears
from Rachel Reeves last week. You know how bad are
the finances? Is Caseta? Am I gonna have to whip
out some new taxes?
Speaker 2 (00:16):
Yes? In a word, So there's a ten billion dollar
black hole in the UK finances, all off the back
of the welfare reforms not being allowed to go as
far as he wanted. That was the big row last
week and the tears from Rachel Reeves in Parliament all
very very embarrassing for Labor. And what we're hearing today
is they're looking at bringing in a new tax on
(00:40):
the wealthy. So if you've got assets north of twenty
million dollars, Labor will be looking for two percent of
them that there will be a wealth tax. Now, the
taxation world is up in arms about this rich people,
as you can imagine, the super wealthy, they're not exactly
enamored either, and a lot of tax experts and financial
(01:00):
bods are pointing out that nowhere in the world has
managed to make a wealth tax work. Basically these people
are so rich and so fiscally fluid, they just move
their money somewhere else and off they go. So already,
you know, we've seen an awful lot of rich people
leave since Labor came to power. Will we see even
more goodness?
Speaker 1 (01:19):
Mate? I mean, obviously there's going to be a get
that's going to have to be filled by catsl or
increases to revenues. Yes, and I have to do something,
won't they? Four hundred media figures call pro Israeli four
pro is Raelly to be removed from the BBC board.
What's this about?
Speaker 2 (01:37):
So there's a man called Robbie Gibb who was a
member of Parliament Conservative then he was a political journalist
and then Theresa A made him her spin doctor doing
comms in Downing Street when she was Prime Minister. None
of that is a problem. What is a problem for
a lot of people now is that he's on the
Board of Directors of the BBC and also the Editorial
(01:57):
Standards Committee at the BBC because he was involved in
the takeover of the Jewish Chronicle newspaper in London five
years ago. Now that is a right wing, very pro
Israel publication and Robbie Gibb is still heavily involved with
the ownership of that newspaper. Now, last week, the BBC
decided not to air a documentary about Gaza which it
(02:22):
had commissioned. It was called Gaza Medics under Fire and
it shows Israel bombing hospitals, killing doctors and nurses and
patients and surgeons, and the BBC decided that having commissioned
the documentary, someone at a very high level in the BBC,
at board level, decided that we're not showing that. Channel
four then showed it. And because the BBC didn't show it,
(02:45):
more people want to watch it, and it has gone viral.
And basically you've got four hundred very prominent media figures
coming out now signing an open letter calling for Robbie
Gibb to be removed from the BBC Board of Directors.
They say his position is completely un Cannibal GiB no
doubt we'll stay there because Starmer gets involved in nothing
like this.
Speaker 1 (03:06):
Now, two famous Greek islands of fighting back against the
cruise ship over tourism there.
Speaker 2 (03:13):
I'm not sure forty dollars is going to put off anyone.
If you've traveled from New Zealand. If you've traveled from Canada, Australia,
wherever you've come from in the world to get to
Santorini and Mikinos, I'm not sure you're going to be
deterred by a local tax, effectively a levy they're putting
on people coming off cruise ships. But that is the
(03:33):
big idea this summer. These two islands are fighting back.
We see a lot of stories about over tourism in Europe,
particularly cities like Barcelona, where people have had enough of
AIRB and B and you know, the influx of tourists
and the rattle of suitcases every morning along cobbled streets.
People have had enough. So Santorini and Mikinos, two of
(03:54):
the most famous Greek islands, they've decided that if you
come to their island off a cruise ship, they're going
to hit roughly forty dollars of a levee. But as
I say, if you've traveled a very long way to
get to a Greek island, you're not going to blink
at forty dollars.
Speaker 1 (04:08):
No, it's certainly not. Hey appreciate your time, DA as always.
Into Brady, a UK europe correspondent, For more
Speaker 2 (04:14):
From Hither Duplessy Allen Drive, listen live to news talks
it'd be from four pm weekdays, or follow the podcast
on iHeartRadio
UK europe correspondent in the Brady with us tonight in
the Good Evening. Good morning to.
Speaker 2 (00:03):
You, hey Ryan, good to speak to great.
Speaker 1 (00:06):
To speak to you too. Now we've seen the tears
from Rachel Reeves last week. You know how bad are
the finances? Is Caseta? Am I gonna have to whip
out some new taxes?
Speaker 2 (00:16):
Yes? In a word, So there's a ten billion dollar
black hole in the UK finances, all off the back
of the welfare reforms not being allowed to go as
far as he wanted. That was the big row last
week and the tears from Rachel Reeves in Parliament all
very very embarrassing for Labor. And what we're hearing today
is they're looking at bringing in a new tax on
(00:40):
the wealthy. So if you've got assets north of twenty
million dollars, Labor will be looking for two percent of
them that there will be a wealth tax. Now, the
taxation world is up in arms about this rich people,
as you can imagine, the super wealthy, they're not exactly
enamored either, and a lot of tax experts and financial
(01:00):
bods are pointing out that nowhere in the world has
managed to make a wealth tax work. Basically these people
are so rich and so fiscally fluid, they just move
their money somewhere else and off they go. So already,
you know, we've seen an awful lot of rich people
leave since Labor came to power. Will we see even
more goodness?
Speaker 1 (01:19):
Mate? I mean, obviously there's going to be a get
that's going to have to be filled by catsl or
increases to revenues. Yes, and I have to do something,
won't they? Four hundred media figures call pro Israeli four
pro is Raelly to be removed from the BBC board.
What's this about?
Speaker 2 (01:37):
So there's a man called Robbie Gibb who was a
member of Parliament Conservative then he was a political journalist
and then Theresa A made him her spin doctor doing
comms in Downing Street when she was Prime Minister. None
of that is a problem. What is a problem for
a lot of people now is that he's on the
Board of Directors of the BBC and also the Editorial
(01:57):
Standards Committee at the BBC because he was involved in
the takeover of the Jewish Chronicle newspaper in London five
years ago. Now that is a right wing, very pro
Israel publication and Robbie Gibb is still heavily involved with
the ownership of that newspaper. Now, last week, the BBC
decided not to air a documentary about Gaza which it
(02:22):
had commissioned. It was called Gaza Medics under Fire and
it shows Israel bombing hospitals, killing doctors and nurses and
patients and surgeons, and the BBC decided that having commissioned
the documentary, someone at a very high level in the BBC,
at board level, decided that we're not showing that. Channel
four then showed it. And because the BBC didn't show it,
(02:45):
more people want to watch it, and it has gone viral.
And basically you've got four hundred very prominent media figures
coming out now signing an open letter calling for Robbie
Gibb to be removed from the BBC Board of Directors.
They say his position is completely un Cannibal GiB no
doubt we'll stay there because Starmer gets involved in nothing
like this.
Speaker 1 (03:06):
Now, two famous Greek islands of fighting back against the
cruise ship over tourism there.
Speaker 2 (03:13):
I'm not sure forty dollars is going to put off anyone.
If you've traveled from New Zealand. If you've traveled from Canada, Australia,
wherever you've come from in the world to get to
Santorini and Mikinos, I'm not sure you're going to be
deterred by a local tax, effectively a levy they're putting
on people coming off cruise ships. But that is the
(03:33):
big idea this summer. These two islands are fighting back.
We see a lot of stories about over tourism in Europe,
particularly cities like Barcelona, where people have had enough of
AIRB and B and you know, the influx of tourists
and the rattle of suitcases every morning along cobbled streets.
People have had enough. So Santorini and Mikinos, two of
(03:54):
the most famous Greek islands, they've decided that if you
come to their island off a cruise ship, they're going
to hit roughly forty dollars of a levee. But as
I say, if you've traveled a very long way to
get to a Greek island, you're not going to blink
at forty dollars.
Speaker 1 (04:08):
No, it's certainly not. Hey appreciate your time, DA as always.
Into Brady, a UK europe correspondent, For more
Speaker 2 (04:14):
From Hither Duplessy Allen Drive, listen live to news talks
it'd be from four pm weekdays, or follow the podcast
on iHeartRadio
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