Corbyn’s Britain: What Labour is proposing

Taxes Immigration

Jeremy Corbyn’s manifesto pledges an income tax increase for the top 5 per cent of earners — those with an income of more than £80,000 ($144,880) — and tax on private health insurance as part of a plan to inject a further £6 billion a year into the National Health Service. Corporations would also pay “a little more” — 26 per cent by 2020, up from 19 per cent now. Raising the top rate of income tax risks “diminishing the UK’s appeal”, according to Nina Skero, at the Centre for Economics and Business Research. Increasing corporation tax is a popular measure with the public amid anger at corporate tax avoidance. The Institute for Fiscal Studies said neither of the main parties was being honest about how much tax rates would have to rise. market and customs union in the talks with the EU. That would be hard to achieve given the party has also said it would end free movement of labour, which EU officials say the UK must keep it if wants to maintain market access. Labour has also rejected May’s view that “no deal is better than a bad deal” by saying no pact would be the “worst possible” option and that a Labour Government would negotiate a transitional accord. Again the EU would have to agree to that, although Corbyn’s proposal to immediately guarantee existing rights for EU citizens living in Britain would generate goodwill. Unlike the Conservatives, who have repeated their pledge to cut immigration to the “tens of thousands” throughout the campaign, Corbyn hasn’t set a numerical target. Instead, his manifesto promises “fair rules and reasonable management of migration”. The manifesto also pledges a “crackdown” on companies using migrant workers to suppress wages.