The Chancellor signalled that his party may change the system around tax-free allowance for those earning over £100,000.
The Tories and Labour clashed over the economy as the Chancellor hinted at tax breaks for high earners while his opposite number insisted she had “no plans” to raise the burden on working people.
“If you look at the distortions in the tax system between £50,000 and £125,000, they are bad economically because they disincentive people from doing what we need, which is to work, work harder. And we are the party of hard work,” he said. Repeatedly pressed on whether she could rule out national insurance or income tax rising if Labour wins the election, the shadow minister said: “I have no plans to increase taxes. We’ve set out the plans that we do have to fund the immediate injection of cash into our NHS and into our schools, but we have no plans beyond that to increase taxes.”
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Sir Keir Starmer hammered the message that Labour could be trusted to deliver “economic stability” on a visit to the West Midlands as campaigning for the July 4 vote entered day three. Repeating his mantra that “stability is change”, the Labour leader told reporters: “The number one mission is to focus on the economy and grow the economy, and the first step towards that is to stabilise the economy.
He was later pictured door-stepping voters in Wimbledon, south-west London, saying in a post on X: “It’s clear what the British people want – bold action and a clear plan. That’s what we will deliver.”
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