💰 Tax cuts for “the richest 1%” 💷 “Fully-funded” policies 🌍 Offshore wind We fact check claims from the Labour leader’s conference speech 👇
At the Labour conference today, party leader Sir Keir Starmer gave the keynote speech, covering the government’s recent policy announcements, the cost of living and the war in Ukraine, among other things.“Higher interest rates. Higher inflation. Higher borrowing. And for what? Not for you. Not for working people. For tax cuts for the richest 1% in our society.”
Measuring the impact of the government’s tax changes is complex, and depends on which specific changes you look at. Looking at the broader picture, the IFS has said the the combined impact of all reforms to income tax and National Insurance introduced over the course of the current parliament, including the continued, mean that in 2025/26 only those on incomes above £155,000 will pay less of these taxes overall, a point Mr Starmer referred to specifically later in his speech.
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