He also argues for a significant cut in council tax for householders across the country, paid for by a new levy on high earners’ salaries above £250,000.

Leslie says; “Why not consider a new 10p in the pound ‘community payback’ levy on incomes above £250,000 per annum, which could fund a £200 cut in council tax for every householder in the country?” He says: “Fairness is necessary always, but especially when times are hard. Gordon Brown captured the public’s imagination with the windfall tax on the excessive profits of privatised utilities to fund the New Deal for employment a decade ago. How bold such a move would seem today.” 

In the upcoming Fabian Review Leslie writes: "Our economy is relatively strong as a whole, but there are still glaring anomalies that persist way beyond any fair notions of just reward. Take the current anxieties over oil and energy. We are witnessing record profit taking, with BP and Shell netting a combined £7 billion first quarter surplus just this year, despite the North Sea oil levy introduced in 2002 and increased modestly in 2005. At a time when the vast majority of the public are feeling the pinch from increasing energy and fuel bills, why not follow Obama’s suggestion and introduce a new windfall levy on the oil companies’ excess profits to pay for the suspension of the 5 per cent VAT on fuel currently paid by ordinary households? Taking a fair share of this profit and hypothecating the money to reduce energy costs would resonate with the vast majority of the public, and remind everyone of the reasons for Labour’s existence. This would seem fair to me. But falling short of this, Labour should at least be publicly calling for restraint on profiteering. Fairness is necessary always, but especially when times are hard. Gordon Brown captured the public’s imagination with the windfall tax on the excessive profits of privatised utilities to fund the New Deal for employment a decade ago. How bold such a move would seem today!