Former Labour leader Neil Kinnock has called on Prime Minister Keir Starmer’s government to introduce a 2% annual levy on individual assets worth more than £10 million. Speaking in a Sky News interview, Kinnock said the measure could raise about £10 billion to £11 billion a year and signal that the government is committed to greater economic equity. The intervention comes as Chancellor Rachel Reeves searches for ways to fill a widening budget gap after recent U-turns on disability benefit and winter-fuel-payment cuts. Labour’s election-year pledge not to raise income tax, national insurance or VAT has limited her options, intensifying debate over taxing wealthier households. Conservative figures, including shadow chancellor Mel Stride, criticised the proposal, warning it could accelerate the departure of high-net-worth individuals and undermine tax revenues. Reeves has not ruled out targeted tax increases but says any move must comply with her fiscal rules, which bar borrowing for day-to-day spending.