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Labour to raise £4.5bn more a year from higher earners

18 Mai 2017

In a press conference with Chancellor Philip Hammond in London, Mrs May said ordinary people would "pay the price of Labour" in higher taxes, mortgage rates and unemployment at a time when the country was going through Brexit negotiations.

Britain's opposition Labour Party has launched its manifesto in the run-up to the general election, set to take place next month.

It does. In total, says the BBC, a Labour government would raise around £48.6bn in new tax revenues, which would be used to fund spending pledges amounting to the same total.

"The top 1% of taxpayers already pay about 30% of all income tax", Knox said, in response to Labour's election manifesto pledge today to raise taxes.

Numerous details of the manifesto were leaked to the media last week, but there were some new announcements, including a plan to nationalise water, as well as the Royal Mail and the railway network.

Corbyn said a Labor government would pay for increased spending by "asking the better-off and the big corporations to pay a little bit more".

The party is being hosted by the Grand Marshal Corbyn's Patriotic Meme Collective, a pro-Labour campaign group led by Cambridge University student Josh Jackson.

"It will change our country", he will say in his speech at the presentation of the manifesto in Bradford in northwest England, according to extracts released by the party's press office.

Labour would not hit people earning more than £80,000 with an immediate 5% income tax hike but it will be raised during the next five years if the party wins the General Election, Jeremy Corbyn has said.

However the Conservative offensive - backed by a new poster campaign - underlines their belief that Jeremy Corbyn's credibility on the economy remains a key Labour weakness.

Mrs May said she recognised that there was an impact from immigration not only on public services, but also on wages and jobs and that as home secretary she had worked for six years to try to establish control on numbers.

"For seven years the Conservatives have been holding Britain back", Corbyn said.

"With consistent support from policy makers, pharmacies can do much more to take pressure off Global Positioning System and hospitals, make access to NHS care more convenient and help people with long term conditions".

"Taken together, some of the headline propositions in the Labour Party manifesto will give business communities across the United Kingdom real cause for concern", he said.

To increase the rates so dramatically at precisely the time when the United Kingdom should be striving to establish its global competitiveness and when many other countries are cutting their headline rates - particularly the U.S. - would be suicidal for the United Kingdom economy, ' he said.

Accountancy firm Kingston Smith points out that Labour's tax plans could hurt the better off.

Speaking to the Politico website Mr McCluskey had said the scale of the task for Labour was "immense" and admitted: "I don't see Labour winning".

"Our voters are looking for politicians to work constructively together, and I think it's a remarkable achievement to get a Conservative/Labour/independent majority to operate the council".

Labour to raise £4.5bn more a year from higher earners