UK politics

Why Labour rejects a wealth tax | FT Interview

Ahead of the UK general election, Robert Shrimsley, FT chief political commentator, interviews Rachel Reeves, the shadow chancellor, and John McTernan, a former senior aide to last Labour prime minister Tony Blair. This is an edited extract of a debate at the FTWeekend Festival on September 2. It began with a protest at Labour's decision to rule out a wealth tax if it comes to power next year. To watch the whole interview and all other festival sessions, register for video on demand at