A key ally of the would-be Prime Minister and one of his possible Chancellors want to increase Capital Gains Tax to match income tax, but there are fears it would not bring in hoped-for revenue.

Louise Haigh, the former transport secretary who is in line for a senior Cabinet post if he becomes prime minister, called for reform of the system to strip out 'exemptions and…

Andy Burnham’s top adviser has called for capital gains and inheritance tax to be hiked and the fiscal rules to be loosened so the government can borrow billions.