John Healey said the Government must prevent wealthy individuals and business leaders from leaving Britain, arguing that they generate jobs and investment. His comments came as financier Sir Peter Lampl disclosed that he had moved to the United States, blaming London’s traffic and anti-car measures, while hedge-fund founder Chris Rokos is reportedly preparing to move his tax residency to Greece.

Healey also indicated that the Chancellor may raise capital gains tax at the 28 October Budget, noting that Britain has the lowest rate among European G7 countries. He suggested the Government was reconsidering a planned fuel-duty increase and defended welfare reforms aimed at reducing long-term benefit dependency, while wider Labour figures discussed potentially higher taxes to fund social-care reform.