The Burnham tax raid coming for the middle classes | The Daily T podcast

In today’s episode of The Daily T, before next month’s Budget, Camilla Tominey and Tim Stanley look into reports Andy Burnham is considering raising capital gains tax to fund a £20bn handout for the lowest earners. Economists are warning Labour will be forced to raise taxes at the Budget after a surge in borrowing costs eroded the Chancellor’s financial headroom. Camilla and Tim also discuss Sir Jim Ratcliffe’s comments about Britain being “on the slide” and that he did not have “any confidence in the UK”. The Telegraph - Podcast Publisher of the Year 2026 CHAPTERS 00:00 Labour Budget Fears & Middle Class Taxes 00:31 Proposal to Equalise Capital Gains Tax 02:04 Wealth Exodus & Millionaires Leaving the UK 03:07 Surging Welfare Costs & PIP Payments 04:33 Impact of CGT Hikes on Business & Investment 06:07 Middle Class Tax Traps & £3 Trillion National Debt 08:51 Contributory Welfare vs Entitlement Mentality 11:16 Mansion Tax Proposals & Housing Market Risks 13:35 Entrepreneurship, Stealth Taxes & Manifesto Promises #AndyBurnham #Budget #UKTaxes #DailyT #TheTelegraph #UKPolitics #CapitalGainsTax #LabourBudget #MiddleClassTax #UKBudget #NationalDebt #WealthTax #MansionTax #PIPBenefits #UKEconomy #StealthTaxes #TelegraphPodcast EMAIL US: We want to hear from you! Email us at thedailyt@telegraph.co.uk or find @dailytpodcast on TikTok, Instagram and X Follow The Daily T on social media: ► Instagram: https://www.instagram.com/dailytpodca... ► TikTok:   / dailytpodcast   ► Twitter: https://x.com/DailyTPodcast ► Get involved in our Daily T Community here:    / @dailytpodcast   ► Follow The Telegraph on Facebook:   / reels   ► Subscribe to The Telegraph: https://www.telegraph.co.uk/customer/... ► Get the latest headlines: https://www.telegraph.co.uk/?WT.mc_id... ► Sign up to The Telegraph's free new daily newsletter, From the Editor, bringing you the latest news, features and analysis from the Telegraph newsroom: https://www.telegraph.co.uk/customer/...