Rayhan Haque writes on public policy issues and international affairs. He currently works as a researcher at the Fabian Society and previously worked for Tony Lloyd MP, Chair of the Parliamentary Labour Party.
George Osborne’s planned financial services levy is a lamentable failure according to international benchmarks. The IMF has called for any banking tax in Britain to be set at £6 billion. Last week, Left Foot Forward highlighted the socially regressive nature of the £2.5bn tax which will mean banks contributing 50 per cent less than families (child benefit and tax credit cuts) to the government’s fiscal consolidation programme.
One issue yet to be dissected by contenders to the Labour crown is taxation – and more specifically its principles. We may still be licking our wounds from one of our worst electoral defeats in history, but timidity is no recipe for renewing and building a revitalised progressive force to counter the growing threat posed by the ConDem coalition government.
Thousands of students are struggling to get into university, with demand far outstripping supply. Graduates are fighting tooth and nail for jobs and the chance to realise their aspirations – Labour must help them.