The top rate of tax could rise to 60p in the pound under a Labour government, shadow chancellor John McDonnell told the party conference on Monday, explaining that there would be a debate on the subject and an assessment of the likely impact.
Tax breaks enjoyed by buy-to-let landlords – for example for repairs on properties whether the work is carried out or not – will also be cut. McDonnell also plans to reintroduce the cap on rents that was a policy of Ed Miliband.
Labour intends to review the activities of the country’s major economic institutions, and will give the central bank an expanded mandate.
The Daily Telegraph, p. 4
