SAM BRODBECK LABOUR: HURTS THE MANY

Be under no illusion. Jeremy Corbyn has unveiled the most radical set of political proposals seen for a generation.

If the public does vote him into No 10, and his manifesto forms the blueprint of a new Britain, the plans of millions of families will be worthless.

Once again, he promised to go after the “tax dodgers, the bad bosses, the big polluters” and public enemy number one, the billionaires – one in three of whom financially back the Tories, Mr Corbyn claims.

But even a cursory glance through their 107-page manifesto shows millions of ordinary people – especially property owners and investors – will be milked to pay for Labour’s gargantuan spending plans, including free broadband and scrapping tuition fees brought in by Tony Blair.

Most bold is a sweep of new attacks on private landlords and property investors, but anyone earning more than £80,000 will pay more income tax, at 45p in the pound. The “super rich” – defined as those on £125,000 a year – will pay a top rate of 50p.

But a far more unfair attack is planned on small investors, irrespective of their income. For now, we have a £2,000 dividend tax allowance, after which share payouts are taxed at 7.5pc, 32.5pc, and 38.1pc for basic, higher and top-rate payers.

In line with Labour’s hatred of investors, who the party seems to think are exclusively drawn from the ranks of the wealthy rather than diligent savers, they want to raise the rates dramatically – taxing people at their marginal income tax rate.

There is no way to argue this is an attack solely on Britain’s undeserving wealthy. It is an assault on DIY investors – of whom some are well off, but many are not.

Another policy to be highlighted is the reversal of inheritance tax reliefs, removing a £175,000 per person allowance when passing on a family home. To say this would tear up the plans of hundreds of thousands of regular families would be a gross understatement. Your wealth is under attack like never before.