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How Labour will pay for it all:
-Corporation tax £19.4bn
Raising the headline rate to 21% from 2018-19, 24% from 2019-20 and £26% from 2020-21
-Income tax £6.4bn
Increase for top 5% of earners by lowering the threshold for the 45p additional rate to £80k (top 5%) and reintroducing the 50p rate on earnings above £123k
-Excessive pay levy £1.3bn
A payroll tax, charged against the employer of any individual earning more than a defined limit
-Offshore company property levy £1.6bn
A charge made against purchases of residential property by offshore trusts located in known tax havens
-Tax avoidance £6.5bn
Linked to Labour's programme to tackle tax avoidance and evasion
-Stamp duty £5.6bn
Extension of stamp duty reserve tax to derivatives and removal of exemption
-Corporate tax £3.8bn
Efficiency review of corporate tax reliefs
-Reversing tax giveaways £3.7bn
On capital gains tax, inheritance tax, bank levy and scrapping the married persons’ tax allowance
-VAT on private school fees £1.6bn
Other £2.6bn
Savings on discretionary housing payments from scrapping bedroom tax, soft drinks industry levy spend redirected from capital to revenue, higher rate IPT on medical insurance, reform controlled foreign companies corporation tax regime
(Courtesy of the Guardian online)
VOTE LABOUR ON JUNE 8th