BRIGHTON, England (Reuters) – Britain’s opposition Labour Party hinted on Sunday at new taxes on wealth, identifying landlords and shareholders as possible targets if it won power at the next election.

Rachel Reeves, Labour’s finance minister and a potential candidate for the post of president, used an interview to show what she described as a “fair tax system”.

Reeves stated that “people who earn their money through wealth should pay more”, referring to “people who have their incomes from stocks, shares or buy-to-let property”.

Boris Johnson, Conservative Prime Minister is currently two years into his potential five year term. This comes after he won over traditional Labour voters during the previous election.

However, the COVID-19 panic forced Johnson’s centre-right government into a rapid increase in government spending and to rack up huge debts which will be difficult to pay back.

Reeves suggested that a Labour government might shift this burden even further to the well-off.

Reeves said that we should utilize the tax system to allow those with wider shoulders to make more contributions.

Reeves also outlined a series of fiscal rules to govern Labour’s wide approach to public finances. These included a promise to lower the debt-to-GDP ratio and to balance daily spending with borrowing to capital investment.

According to Reeves, fiscal rules serve two purposes: they provide an anchor for ministers of the government and civil servants. They also can assure markets and the public that you have a plan.

In 2015-2019, Labour was led by Keir Sternmer (more centrist) and the left-wing Labour banner. These spending commitments frightened financial markets. Now, they are trying to present a fiscally responsible party image.