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  • 10 hours ago
Jeremy Corbyn slams Labour's Budget as he issues tax warningSource: GB News

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00:00Of course, ending the two-child benefit cap is welcome.
00:03It should never have been there in the first place,
00:05and it should have been abolished the moment Labour went into office,
00:08but it wasn't, so we've had an extra year of child poverty.
00:11That's a good thing, but by not raising the income tax threshold,
00:15it means more people will be brought into taxation
00:18who are the very lowest earners,
00:19and that's going to go on for another six years.
00:22And so what Rachel Reeves has baked in
00:26is higher tax for the lowest earners.
00:30For the next six years.
00:33The other thing missing was any wealth tax.
00:36The mansion tax won't have much effect on the very wealthiest people,
00:40but a wealth tax of 2% on disposable wealth over £10 million
00:45would bring in over £20 billion a year.
00:48That would help a great deal to fund what I believe is the most essential thing,
00:53which is a council house building programme.
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