Election POLL: Which of Jeremy Corbyn’s Labour policies scare you the most? VOTE HERE – News 247

 Mr Corbyn appeared in Telford today where he insisted that he stands for politics which means to “share power and wealth with people” Brexit has dominated the political discourse of late but the Labour Party has still put forward several policies which have received criticism, such as the proposal to initiate a four-day week and the scrapping of private schools Mr Corbyn has demanded to deliver “real change” for the UK, so here are six key policy pledges explained  Although the party has not officially launched its manifesto, this analysis is based on announced pledges from the party itself  If the Labour Party were to come to power, the rates of income tax will increase to 45 percent on income over £80,000  For earnings over £125,000, there will be a 50 percent tax rate which exceeds the current highest tax rate which stands at 45 percent for incomes over £150,000   For any staff earning more than £330,000 staff will have to pay a levy.Inheritance tax This year, Labour announced plans to reform inheritance tax, replacing it with what they termed as a “lifetime gifts tax”  The current scheme allows up to £475,000 or £950,000 for couples to be passed on without being taxed   However, under Labour’s proposal, any amount above £125,000 would be taxed annually at the same rate as income tax Pensions If Mr Corbyn comes to power, his party has announced that the state pension will increase to £175 20 a week. However, Labour has also announced plans to hand 10 percent of shares from UK-base companies to workers over a decade which could see pension funds lose £31billion according to research from Clifford Chance which stated that currently, UK pension funds hold £310 billion   Some have also speculated that Labour’s plans to renationalise the certain industries could directly affect pensioners due to a report from the CBI which campaign manager for TaxPayers’ Alliance, Duncan Smith, quoted at “almost £200billion” Landlord crackdown Under a Labour Government, the party would bring forward a plan to which would allow tenants in the private rented sector to buy their homes from the landlord  Within the plan, a Labour Government would set the price of a reasonable fee to buy their home   The party is aiming to tackle what the Shadow Chancellor termed as the “burgeoning buy-to-let market” Implementation of a four day week Following their party conference in Brighton in September, the Labour Party announced plans to reduce the working week to four days (32 hours)  If the party comes to power, it will reduce the working within a decade while Shadow Chancellor, John McDonnell insisted that this proposal would not cause a “loss of pay” to workers   Trending  Announcing the proposal, Mr McDonnell boasted that his party wanted people “to work to live, not live to work”  A recent study by the Centre for Policy Studies revealed that the policy would cost the taxpayer £17billion a year Scrapping private schools Under the Labour Party, private schools would be abolished and integrated into the state sector

About the author


  1. ohhh I'm so scared … A person working a 40 hour week on minimum wage, currently has a bring home of £13,661.44 a year, after tax. This is considered a living Wage. A person on £125,000 would have a bring home of £62,500, under Corbyn. That's more than four times the living wage.That's more than £5K a month.
    … how will they cope!

Leave a Reply

Your email address will not be published. Required fields are marked *