Labour’s plans to raise taxes will increase prices and harm pensions

SIR – It seems Jeremy Corbyn is persisting with the philosophy that he used in the last general election, suggesting that some of his policies would be funded by taxing the rich and increasing corporation tax.

The notion of taxing the rich more may appeal to those who believe that it wouldn’t affect them. What they may not understand is that heavier taxation could well result in people taking their high-earning capabilities elsewhere, with no increase in the overall tax take.

As far as corporation tax is concerned, it may seem like a victimless tax, but in fact it would lead to companies increasing the prices of their goods, as well as cutting their dividends – thus penalising people who have shares in those companies or pension funds invested in them.

To revert to the old metaphor, there is no “free money tree”. Len Smith

Crowthorne, Berkshire

SIR – Jeremy Corbyn’s conference speech rightly praised our emergency services and dedicated public-sector workers.

Sadly, he neglected the wealth creators who pay for them. Andrew Siddons

Walsall, Staffordshire

SIR – Younger voters are – to some degree understandably – resentful of the baby boomers. They are also the group most likely to support Labour.

If this leads to a Corbyn government, then they may get their revenge. His economic promises would lead to hyperinflation that would destroy the savings of the older generations, reducing their spending power and slowing the economy.

House prices would probably crash, and pension funds would be put at even greater risk. This future may lead to a greater perceived equality, but it would amount to a race to the bottom shared across the generations. Roger Gentry

Sutton-at-hone, Kent

SIR – I think it would be a great idea to share the profits from advanced technology that has made many people redundant in the workplace (“Corbyn’s ‘tax on robots’”, report, September 27).

To this end, perhaps the supermarkets and banking industry could pay the customer a decent wage for choosing to use the self-checkout tills and automated banking.

I do not use the self-checkout at present, preferring to keep the nice till lady in a job, but I am open to receiving payment for changing my preference. Linda Scannell

Maidstone, Kent

SIR – Britain’s tax model is based on personal – rather than corporate – taxation. If companies can reduce the number of employees by introducing robots, then any government will have to think again about how to raise taxes and some form of taxation on robots is inevitable. David Noble

Basing, Hampshire