Tuesday 16 May 2017
This morning the Labour Party released its 128 page Manifesto. An earlier version of the Manifesto was leaked last week, but the final version does have some important changes.
The main overall proposals are to:
- Create a National Investment Bank to bring in £250bn over ten years to upgrade the economy
- Set up regional development banks
- Ensure that taxpayers earning over £80,000 a year will pay a higher rate of tax (no precise tax rate is given although 45% has been suggested in various news reports)
- Have an “Excessive Pay Levy on companies with staff on very high pay”
- Introduce “extra corporation tax revenues” (no precise tax rate is given)
- “extend existing Stamp Duty Reserve Tax to cover a wider range of assets, ensuring that the public gets a fairer share of financial system profits“
- Bring back into public ownership rail companies, energy supply networks water companies and the Royal Mail
- Repeal the Trade Union Act
- In the context of Brexit, develop “fair immigration rules” (which are not specified)
- Support “the renewal of the Trident nuclear deterrent “
To read more about this, please login or click here to register.