Home Business NewsBusiness Corbyn left red-faced as records show party avoided paying tax on £4.3 million worth of profits

Corbyn left red-faced as records show party avoided paying tax on £4.3 million worth of profits

by LLB Reporter
5th Aug 16 11:13 am

Uh oh

The Labour Party avoided paying tax on £4.3m worth of profits last year, latest figures from the Electoral Commission have revealed.

The news comes as Labour leader Jeremy Corbyn announced that he will administer a £500bn investment spree… by tacking tax evasion.

Last year the party enjoyed a profit of £4.3m but paid no tax on it. The Conservative Party, on the other hand, ran a surplus of just over £1m and paid £238,000 in tax. 

Chris Philp, Conservative MP and Member of the Treasury Select Committee, said: “The hypocrisy of the Labour Party and its leader claiming it will tackle tax dodging whilst avoiding paying up themselves is extraordinary.

“It is a Conservative Government that has done more than any other to crack down on tax avoidance and clearly it is only the Conservatives who can be trusted to finish the job.

“Whoever wins this leadership contest, its clear Labour are too divided, incompetent and dangerous to build a country that works for everyone.”

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