Labour party defines the rich as anyone earning over £70000

Labour government would 'put up taxes on people earning more than £70000'

Shadow chancellor John McDonnell has suggested he wants to soak the "rich" earning more than £70,000 a year under a Jeremy Corbyn government.

The Labour leadership has publicly discussed nine other tax rises and a raft of spending priorities which run to £500billion.

When pressed Mr McDonnell defined the rich as people earning "above £70,000 to £80,000 a year".

Mr McDonnell said a fair taxation system would see "the corporations and the rich pay their way more".

She added: "The system at the moment is one whereby there is an elite who believe the rules don't apply to them, that taxes don't apply to them, that they don't need to be part of the system". "It's been glacial and we can see there are people who take the mickey, and it's not fair".

Body of Missing Plano Woman Found
Police said they have not found anything suspicious in Getrum's life to provide any lead or answers to the mystery of her death. Dallas police said a body was found Saturday at Lake Ray Hubbard and had yet to be identified when Getrum was reported missing.

"They have lost their income tax personal allowance, we have seen a 45p rate at £150,000 and very big reductions in income tax relief for pension contributions". When asked how he defines the rich, he offered a set figure.

He told BBC Radio 4's Today programme that Labour would scrap giveaways to the wealthy such as corporation tax cuts and would collect more in inheritance and capital gains taxes.

He also stressed that whoever wins the election on June 8 would face "loopholes" in the tax system which they would want to close including the loss in Treasury revenues due to the move to self-employment and the gig economy - as the self-employed pay less National Insurance. 'We have raised that we will use public procurement to secure pay ratios - a ratio in regards to the maximum that can be earned by directors and chief executives in relation to the average pay of their workers'. "And I understand that", she said.

'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.

Related News:

  • Featured Stock: MGM Resorts International (MGM)

    The company has been one of the biggest innovators in "Resorts & Casinos" employing approximately 58000 full time employees. Following the completion of the sale, the insider now directly owns 213,912 shares in the company, valued at $6,224,839.20.
    Minnesota dairy farms affected by US-Canada trade dispute

    Minnesota dairy farms affected by US-Canada trade dispute

    Ben Brancel, Wisconsin's Secretary of Agriculture, Trade and Consumer Protection. "This is a heart-wrenching situation". According to Novakovic, the back and forth of protectionist policies between the two nations has continued for decades.
    Depopulate Kashmir Valley to curb protests: Subramanian Swamy

    Depopulate Kashmir Valley to curb protests: Subramanian Swamy

    The mobile internet service for post-paid connections was restored on November 19 past year after a gap of about five months. The video sparked outrage and triggered protests.
  • Gilead Sciences, Inc. (GILD) Stock Rating Upgraded by Vetr Inc

    The biopharmaceutical company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.09. Following the completion of the transaction, the insider now owns 3,199,969 shares in the company, valued at $214,973,917.42.
    Green's all-around consistency boosts Warriors in Game 1

    Green's all-around consistency boosts Warriors in Game 1

    Turnovers and hot shooting from the opposition are mainly why Portland stuck around so long in this series' inaugural game. McCollum, who shot 11-for-15 from the floor in the first 24 minutes of play, seemed to have the Warriors' number.

    Duke Energy Corporation (NYSE:DUK) Price Target & Session Check

    The ROA of Duke Energy Corporation is now valued at 1.70% indicating how profitable the company is in regards to its total assets. Butensky & Cohen Financial Security Inc. purchased a new stake in Duke Energy Corp during the third quarter worth $507,000.
  • Mike Pence issues North Korea warning as 1200 marines ready for war

    Mike Pence issues North Korea warning as 1200 marines ready for war

    North Korean state media warned the United States of a "super-mighty preemptive strike" after U.S. North Korea has always been a threat to the USA and its Asian allies South Korea and Japan.
    British Lawmakers Overwhelmingly Support Early General Election In June

    British Lawmakers Overwhelmingly Support Early General Election In June

    British Prime Minister Theresa May has called for a general election to take place on Thursday, 8 June. Britain's Prime Minister, Theresa May, announced Tuesday a snap general election to be held on June 8.
    Venezuelans gear up for major march against Maduro

    Venezuelans gear up for major march against Maduro

    She says: "This is like a chess game and each side is moving whatever pieces they can. we'll see who tires out first". State Department of encouraging Venezuelan opponents to attempting a government overthrow.
  • Japan and Australia to deepen ties amid North Korea tension

    Japan and Australia to deepen ties amid North Korea tension

    And the United States will continue to deploy more of its advanced military assets to the region in the years ahead, he added. Moon himself has said that decision should be made by the next president and stayed away from taking a clear stance.
    Samsung Galaxy Book Will Be Available April 21

    Samsung Galaxy Book Will Be Available April 21

    Samsung Galaxy Book, which was announced during MWC 2017, will be now up for pre-order starting April 21st in the United States. The standard model only comes in silver, but Best Buy is exclusively offering a black version in addition to the silver.
    Championship Review: Brighton promoted as Zola calls time on rotten reign

    Championship Review: Brighton promoted as Zola calls time on rotten reign

    Hughton, who has won 63 of his 123 games in charge on the south coast, has managed in the top flight with Newcastle and Norwich . Here, Press Association Sport looks at where the Seagulls may need to improve in order to compete in the Premier League.


Most liked

Junk for South Africa as Fitch joins S&P in cut on politics
Calls for Zuma's resignation have since grown and reached a fever pitch with protest marches all over South Africa on Friday. Save South Africa says that activism in the country needs to be maintained and that today's events were just the beginning.

Analysts At Jefferies & Co Maintained Agree Realty Corp (NYSE:ADC) As Hold
Want to see what other hedge funds are holding O? Now insiders hold 359,897 shares in the business which makes up 0.36% of shares. Diliberto, CFO, sold 9,100 with an average share price of $112.69 per share and the total transaction amounting to $1,025,479.00.

Huntington Bancshares Incorporated Posted gains of 2.54% in the Last Trade
There are advantages to using a moving average in your trading, as well options on what type of moving average to use. Looking at the stock's movement on the chart, Huntington Bancshares Incorporated recorded a 52-week high of $14.66.

Mixing Business with Presidency, Ivanka Trump Sees Profits in China
But there's simply no denying her father's upset victory in the 2016 election lit a fire under the 35-year-old business mogul. Public records show that the company has more than 180 trademarks, some of them yet to receive approval, around the globe.

John Wall leads Wizards to playoff win
Seven former Cats will take the court to represent seven different teams in this year's National Basketball Association playoffs. The Rockets erased a 15-point deficit to take a 2-0 lead after game two of their Western Conference first-round playoff series.

Murder Suspect Steve Stephens Shoots Himself Following Police Chase
Cleveland Mayor Frank Jackson told a news conference: "We have closure in regards to the search for Steve Stephens". She said she tried to reach him after the video was posted on Facebook but he never answered his phone.

Senators beat Bruins 1-0, take 3-1 lead in series
The Leafs have Auston Matthews , William Nylander , Mitchell Marner , and Jake Gardiner, just to name a few that are insane fast. The first 10 minutes of that game, if we can continue to keep that pace up, I don't think they'll be able to play with us.

Winslow Evans & Crocker Inc. Has $299000 Stake in Newmont Mining Corp (NEM)
The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Important factors to focus when evaluating a stock's present and future value are the 52 week price high and low levels.

From Dinakaran FIR to ouster, key developments so far
Earlier, Dhinakaran said none in the party were against him, asserting that all party MLAs stood behind him. Sasikala was a close aide of Jayalalithaa, whose death in December forced a by-election in the R.K.

Final killer whale to be born in SeaWorld park welcomed
Visitors soon will be able to see the calf with its mother "during select times", the park said . Takara began bonding and caring for her new baby immediately, according to the park.

Nintendo is Working on a SNES Mini for the Holiday Season
However, most may have forgotten that the resurrection of the famed 1986 game console was expected to be done on a limited basis. Nintendo NES Classic Edition is apparently dead after releasing a statement that the classic device has reached its due date.

UK's Labour vows to take on 'cosy cartel' that protects wealthy
TV debates don't have a long history in British politics, but were a feature of the last two elections, in 2010 and 2015. May, who has described herself as "not a showy politician", said she would rather talk directly to voters.

Watch This Wounded Marine Finish The Boston Marathon
There was a sense of calm in the 25-year old's demeanor despite the emotional toil she has endured over the past six months. In the women's wheelchair race, Switzerland's Manuela Schar was first across the line in 1 hour, 28 minutes and 16 seconds.

New Justice Gorsuch asks his first questions from Supreme Court bench
Chief Justice John Roberts opened the session welcoming Gorsuch to the bench and wishing him a long and happy career . Gorsuch then said he was "sorry for taking up so much time ", according to the AP account.

Ronaldo hails Real mentality in Bayern win
We had many chances in the first half but then we lacked tranquillity. "I am furious, so furious tonight as I have never been". Cristiano Ronaldo levels for Real on the night but is two metres offside when he receives Sergio Ramos' pass.