Labour Says It’s ‘Determined’ to End Private Equity Tax Loophole

The UK’s Labour Party confirmed plans to raise taxes on private equity fund managers.

In its election manifesto, published Thursday, Labour pledged to change the taxation rules, which the party said would raise £565 million ($722 million) annually if it wins the general election on July 4, to be spent on adding mental-health staff in the National Health Service, legal aid for disaster victims and the waiving of visa costs for non-UK veterans who served in the British military.

Keir Starmer

Photographer: Hollie Adams/Bloomberg

Labour is planning to alter the way carried interest — a portion of investment returns, shared between fund managers ...