Emily Thornberry Says People Earning £70000 May Not Feel Rich
- Author: Leroy Wright Apr 21, 2017,
Apr 21, 2017, 1:25
When asked how he defines the rich, he offered a set figure.
He said exact proposals would be cemented in coming weeks, but Labour would ensure both "corporations and the rich" would pay more as part of a fairer tax system to cover the cost of increased investment in the NHS, schools and other services.
Yesterday, John McDonnell said a Labour government would send a higher tax bill the way of all workers earning over £70,000.
But when questioned on whether that would mean people in that income bracket paying more, Mr McDonnell added: "That's not what we've said". Labour believes in a fair tax system, and is opposed to the £70billion in Tory tax giveaways to the super-rich and big corporations'.
"We believe, we're talking about the rich, will be above £70-80,000 a year", he told Today on BBC Radio 4, although it was unclear whether Labour intends to introduce a higher top rate of tax at this point or at £150,000, as before.
Jeremy Corbyn this morning attacked the "rigged system" and said he would not "play by the rules" in the election.
"But of course those people don't want us to win". I think there is a general view that middle and low earners are being hit very hard by income tax rises and the burden that is placed on them by stealth taxes.
Mr McDonnell said Labour would go into the election promising to cap senior executives' pay with the introduction of "a pay ratio".
Mr McDonnell argued that Theresa May's early election call was more about the risk of an economic downturn than securing a mandate for her European Union withdrawal plans.
"And I understand that", she said.
"You look at what's happening in this country at the moment and you see that the burden in terms of the tax take has fallen on middle and low earners...below the higher tax bands".
'We are seeing inflation increasing, we are seeing wages stagnate and we are seeing people in heavy debt as a result of that'.
Labour's approach to Brexit talks would aim to secure "tariff-free access to the single market" and a managed and fair immigration system from the EU. "People should have that right we're not going to stand in the way of that", he said.