You easily hit the 56% rate on income tax and even the poorest workers pay 25% VAT, meanwhile wealthy landowners and shareholders pay no inheritance tax and minimal capital gains and property tax.
So it impedes social mobility and encourages hard workers to move abroad - this has been made much worse with the refugee crisis too, as they're practically discouraged to work hard. And now look at the healthcare crisis, etc. as wages are a pittance compared to the USA, Norway, Denmark, Switzerland, etc.