Latest
Recommended
Published: Tue, May 09, 2017
World | By Tasha Manning

McDonnell issues vow to be "first socialist Labour chancellor"

McDonnell issues vow to be

The Conservative said the Lib Dem plan would hit 30 million people with an unwanted tax increase.

While he said this would apply to those earning more than £80,000, the shadow chancellor did not provide details of how this would be done.

John McDonnell believes voters will be "pleasantly surprised about the modesty" of Labour's tax increases for higher earners, with the "1% at the top" affected most.

But his political opponents are accusing him of a tax raid on the professional classes.

He said the Labour manifesto for the June 8 General Election will also include a promise of no rises in personal national insurance contributions (NICs) or Value-Added Tax over the course of the five-year parliament, due to end in 2022.

"The Labour Party is now the party of low taxes for middle and low earners, while the Tories are the party of tax handouts for the super-rich and big corporations".

The move forms part of a Labour bid to position itself as the party of low and middle-income workers, as it fights Conservatives for the support of a social group which has suffered stagnating wages since the financial crash.

Should Aaron Sanchez Have an Extended Break?
NOTES: Toronto RHP Aaron Sanchez (right middle finger blister) was placed on the disabled list for the second time this season. Estrada, 2-0 with a 3.12 ERA in four starts against the Yankees a year ago , allowed one run and seven hits in seven innings.

Mr Hammond was forced by the 2015 pledge to dump planned reforms to NICs in the Budget.

Dowd spoke to Julia Hartley-Brewer about Labour's headline new tax initiative, which would only impose income tax rises on 5% of the population.

Asked if he would be a "Marxist" Chancellor, he replied: "I will be the first socialist in the tradition of the Labour Party".

The party claims this guarantee means the state pension is expected to be worth at least £137.15 per week by 2021, up from £122.30 in 2017.

The Liberal Democrats also criticized Labour.

Theresa May's latest policy pledge is a major shake-up on mental health, now a high-profile issue after footballer Aaron Lennon was taken to hospital suffering from a stress-related illness and Prince Harry revealed he sought help for a mental health struggle brought on by the death of his mother Princess Diana. Yes, I have read some of Adam Smith, I have read some of Karl Marx, I have looked at the words of Ricardo, I have looked at many, many others.

Like this: