McDonnell accuses Tories of siding with the super rich
Shadow chancellor John McDonnell is accusing Boris Johnson of allowing the country’s “super rich” to buy access to “tax breaks and corporate giveaways”.
Labour published research which, it said, showed 48 of the 151 billionaires listed in the latest Sunday Times Rich List had donated more than £50 million to the Tories since 2005.
The opposition party has calculated that by 2023/24, the Conservatives will have handed out “tax breaks and corporate giveaways” worth almost £100 billion since coming to power in 2010.
Labour said these perks included £86 billion in corporation tax cuts, £5.6 billion in reductions to inheritance tax and £5.5 billion in cuts to capital gains tax.
In a speech on Tuesday, McDonnell will accuse the Tories of siding with “the billionaires, the bankers and big business”.
Read on...
Speaking in London, he will say: “No one needs or deserves to have that much money, it is obscene.
“It is also obscene that these billionaires are buying access and tax breaks to Boris Johnson’s Conservative Party.
“We know whose side Boris Johnson is on – the billionaires, the bankers and big business.
“Jeremy Corbyn and the Labour Party are on the side of the people, offering real change for our country, putting wealth and power in the hands of the many, not the few.”
We know everyone is suffering under the Tories - but the Canary is a vital weapon in our fight back, and we need your support
The Canary Workers’ Co-op knows life is hard. The Tories are waging a class war against us we’re all having to fight. But like trade unions and community organising, truly independent working-class media is a vital weapon in our armoury.
The Canary doesn’t have the budget of the corporate media. In fact, our income is over 1,000 times less than the Guardian’s. What we do have is a radical agenda that disrupts power and amplifies marginalised communities. But we can only do this with our readers’ support.
So please, help us continue to spread messages of resistance and hope. Even the smallest donation would mean the world to us.
-
Show Comments
Leave a Reply
You must be logged in to leave a comment.Join the conversationPlease read our comment moderation policy here.