As Britain’s political landscape grows increasingly turbulent, the Trades Union Congress (TUC) and its general secretary, Paul Nowak, have stepped into the spotlight, urging the Labour government to deliver on its promises of change. With the annual TUC conference in Brighton just days away, Nowak is calling on Chancellor Rachel Reeves to introduce a suite of wealth taxes in the upcoming November Budget—a move he says is both popular with the public and necessary to counter the rise of Reform UK, led by Nigel Farage.
Nowak’s message is unambiguous: “The promise of change still feels like a slogan,” he told The i Paper. For many working people, the Labour government’s arrival has yet to translate into tangible improvements in daily life. “It doesn’t feel like their public services have got better, it doesn’t feel like the cost of living pressures have eased,” Nowak observed. He emphasized that while Labour has “laid the foundations for rebuilding our economy” after what he described as a “toxic legacy” from the Conservatives, the government now faces a critical test: turning rhetoric into reality.
Central to Nowak’s pitch is an ambitious tax reform agenda. He proposes aligning capital gains tax rates with income tax rates, introducing a 2% annual wealth tax on assets over £10 million, imposing a windfall tax on bank profits, and raising taxes on online gambling. In his words, “It’s right, as we go into the Budget, for those with the broadest shoulders to be asked to pay a fairer share.” Nowak points to international examples for inspiration, noting, “I’ve seen first-hand the experience of the wealth tax, the solidarity tax in Spain and it raised billions of euros. It didn’t lead to an exodus of millionaires or wealthy people from Spain and Spain now has one of the fastest growing economies in the OECD.”
Backing up his proposals, Nowak unveiled a poll commissioned by the TUC of 5,000 adults, which found that two-thirds of voters, including three-quarters of 2024 Labour voters now leaning toward Reform, support the wealth tax measures. This sentiment is echoed among Conservative-to-Labour switchers, with 84% in favor. “Most people would recognise, if you’ve got £10m in assets, you could probably afford to pay a little bit more in tax,” Nowak told Sky News. He sees these policies as a “clear dividing line” between Labour and both the Conservatives and Reform UK, arguing they demonstrate Labour is “on the side of working people.”
But the path forward is anything but smooth. Chancellor Rachel Reeves, who will deliver the Budget on November 26, has so far signaled reluctance to introduce new wealth taxes. The Treasury has pointed to recent tax increases on private jets and second homes, with Reeves stating, “We introduced increased taxes on private jets, on second homes and increased capital gains tax. So I think we’ve got the balance right in terms of how we tax those with the broadest shoulders. But any further decisions will be ones that are made at a budget in the normal way.”
Despite this, pressure is mounting within Labour’s own ranks. Former Labour leader Lord Kinnock and former shadow chancellor Anneliese Dodds have both publicly supported a 2% wealth tax on assets over £10 million, arguing it’s time for the richest to contribute more. Meanwhile, a new economic adviser, Baroness Shafik, known for her support of taxation on wealth and land, has joined Downing Street, sparking hopes among some that the debate on tax policy is more open than before.
The economic context adds urgency to the debate. Britain’s big four high street banks posted a staggering £46 billion in profits last year, largely driven by high interest rates. Nowak argues that these windfall profits should be subject to special taxation, similar to the approach taken with energy companies under the previous Conservative government. “We think we can still have a profitable bank sector and ask them to pay their fair share,” he told the BBC. Yet, financial sector leaders like Lloyds Bank’s Charlie Nunn have warned that further tax rises could undermine efforts to boost the UK economy and deter investment.
Nowak is quick to challenge the narrative that higher wealth taxes would drive capital out of the country. “Britain is an attractive place for international investors,” he insisted, pointing out that previous tax changes for non-doms and the end of VAT exemptions for private school fees did not trigger an exodus of the wealthy. Nevertheless, he acknowledges the need for a “grown up conversation” about the difficult choices facing the nation. “The public aren’t daft—they know there are difficult choices,” he said.
Beyond tax policy, the TUC is pushing for new workers’ rights, including the much-discussed “right to switch off”—a measure that would prevent employers from routinely contacting staff outside working hours. Nowak explained, “It’s not unreasonable to say, in a world where people are potentially on call 24 hours a day, seven days a week, 365 days a year, that a sensible limit is put on routine contact out of working hours.” The Employment Rights Bill, which includes this provision, is currently making its way through Parliament, and Nowak is “confident but not complacent” about its passage. He urges the government to resist any attempts by the House of Lords to dilute these new rights, contending that “this stuff is overwhelmingly popular with the British public—including Reform voters and Reform-curious voters.”
The political stakes are high. Nowak warns that if the government fails to deliver meaningful change, there is a “real danger” that voters will become disillusioned with mainstream politics and turn to “divisive alternatives like Reform.” He has also taken aim at Nigel Farage, accusing him of talking a good game on standing up for working people while voting against workers’ rights in Parliament and supporting Donald Trump’s tariffs on UK industry. “He says he stands up for British industry and supports Donald Trump and his destructive tariffs. And he talks about tax cuts for the rich when we know that we need those with the broader shoulders to pay their fair share,” Nowak told Sky News. The TUC plans to use Trump’s upcoming state visit to put further pressure on Farage, with Nowak challenging him to defend his record on UK jobs.
Meanwhile, Deputy Prime Minister Angela Rayner, a key union ally, has faced intense scrutiny over her personal finances, recently admitting to underpaying stamp duty and referring herself to the ministerial ethics adviser. Nowak has defended her, condemning what he describes as “misogynistic attacks” from the right-wing media and politicians. “The Deputy PM has made a mistake—she’s owned up to that and referred herself to the Government’s ethics adviser for investigation. That’s the right thing to do,” he said, adding, “I look forward to the personal finances of leading shadow Cabinet members and Reform’s leadership being subject to as much scrutiny.”
As the TUC conference approaches, the debate over wealth taxes, workers’ rights, and the future direction of Labour is set to intensify. For Nowak and the unions he represents, the time for slogans is over—the government must act decisively if it hopes to retain the trust of working people and stem the tide of disillusionment that threatens to reshape British politics.
