Top Tory tears into Labour’s ‘hostile’ tax raids as he issues warning over Ed Miliband's Treasury ambitions

A Conservative Shadow Minister has accused Labour of creating a “hostile environment” for business with tax raids, driving wealthy taxpayers out of Britain.

Speaking to GB News, Shadow Exchequer Secretary to the Treasury, Gareth Davies, also issued a warning over speculation Ed Miliband could become Britain’s next Chancellor.

“Everybody knows somebody who is leaving or has left already,” Mr Davies began.

Taking aim at the Treasury under Rachel Reeves, the Tory MP blamed an apparent exodus of wealth on the “hostile environment this government has created to risk-taking and enterprise”.

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“If you tax too much, people will leave and find other alternatives elsewhere. And that’s exactly what’s happening.”

To that end, he promised a future Conservative government would seek to create a more competitive tax system that “focuses on enterprise”.

Mr Davies pledged that taxation would be “as low as possible for those who create the employment in our country”.

Meanwhile, the Treasury is expected to undergo major changes with Andy Burnham set to become the next Prime Minister.

Among those mooted to be in line to enter No11 is current Energy Secretary Ed Miliband.

To secure the top job, he is rumoured to be ready to drop net-zero pledges and back drilling in the North Sea.

However, Mr Davies warned that any move to revive North Sea oil and gas would be undermined by higher taxes.

“It’s all good and well pumping oil and gas, but if he’s going to tax the hell out of our businesses, that’s not going to help anybody,” the top Tory stressed.

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Additionally, he remained unconvinced that the Energy Secretary would totally abandon his “absolutely perplexing green obsession with windmills”.

“We need to ensure that we use all the resources of the United Kingdom, not least oil and gas.“

The Climate Change Committee itself has said ages ago that we need to draw on all energy sources for years to come.”

Despite the broadside, Mr Davies did give some credit to Labour over the proscription of Iran’s Islamic Revolutionary Guard Corps as a terrorist organisation.

Despite this, he said the decision came “a little late for our liking”.

“Now it’s about execution. That’s where we want to get answers from the government.”

Mr Davies's concerns were echoed by security and Islamism expert Emma Schubart.

Speaking to GB News, she warned Andy Burnham in Labour were “in no way off the hook" on tackling the threat posed to Britain by Iran.

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