Home Business NewsPolitics News General election 2017: Labour unveils pledges costing £48.6bn

General election 2017: Labour unveils pledges costing £48.6bn

by LLB Reporter
16th May 17 1:41 pm

This is what Jeremy Corbyn said

Labour has unveiled pledges which will cost a whopping £48.6bn. This will be funded by an extra tax revenue.

Labour leader Jeremy Corbyn said the new manifesto was a “programme of hope”.

Under the new plans income tax would increase to 45p for those earning over £80,000 and 50p for those taking home more than £123,000.

As well as this it also includes the nationalisation of England’s 10 water companies and the scrapping of university fees.

Labour has said the pledges will all be costed by other fundraising measures such as corporation tax rises, a crackdown on tax avoidance and an “excessive pay levy” on any salaries above £330,000.

The Conservatives have said the sums “don’t add up”.

Corbyn launched the proposals in Bradford and said: “Whatever your age or situation, people are under pressure, struggling to make ends meet,” 

“Our manifesto is for you.”

Labour is currently the first major party to unveil its manifesto ahead of the general election on the 8 June.

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