Labour pledges to reform rates and raise minimum wage

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Labour’s manifesto includes pledges to guarantee a “proper” business rates appeal process and to extend the National Living Wage to all workers aged 18 or over.

In its general election manifesto launched today (Tuesday), Labour said it would review the entire business rates system in the longer run as part of a package to reform business rates, as it sought to portray itself as “the party of small businesses”.

Corporation tax would rise from 19% to 26% by 2020, but the party said it would reintroduce the lower small profits rate of corporation tax for small businesses.

However, it also promised to raise the minimum wage to the level of the National Living Wage for all workers aged 18 or over, which it expects to be at least £10 per hour by 2020.

The 45p rate of income tax would start at £80,000 instead of £150,000, while a new 50p rate of tax would be introduced on earnings over £123,000.

The manifesto also pledges to ban zero hour contracts so “every worker gets a guaranteed number of hours each week”.

The Conservatives will launch their manifesto on Thursday 18 May. 

Readers' comments (4)

  • CUE THE OUTRAGE FROM THE SMALL BUSINESS COMMUNITY.HOW DARE HE ASPIRE TO PEOPLE BEING PAID PROPERLY !!!!!A DECENT SET OF PROPOSALS WHICH WILL EMPOWER WORKERS AND GET THEM OUT OF POVERTY.ZERO HOUR CONTRACTS ARE LEGALISED SLAVERY

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  • No retailer what might actually "empower" people is a lack of Government interference and indeed a rolling back of state influence and spending. Unfortunately even though I believe firmly in Friedman economics I doubt I shall see anything of the sort in my lifetime.

    As to Cornyn no outrage as him saying policies is on a Apr with me at this time, I.e. little or zero chance of being in a position to implement them.

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  • JAMES, THAT IS THE SADDEST THING OF ALL.WITH A TORY BREXIT ,THERE WILL BE THOUSANDS OF JOBS LOST AND SADLY BUSINESSES WILL CLOSE.COME 2020 THE LANDSCAPE OF BRITAIN WILL BE LIKE A WASTELAND.

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  • I actually agree with you re: brexit and the potential loss of open markets, etc. but again political interference has succeeded in making what should be a private market affair worse.

    The rise of a NLW would be offset by the same job losses you mentioned IMO, and again demonstrates Gov't ignorance when it gets involved in private matters.

    The wasteland reminiscent of the eighties if it does come to pass which sadly I think it will again will be a result of poor Gov't intervention and planning, not private individuals. What a Gov't sets out to achieve vs the actual outcome has been a problem with state involvement since at least the mid 20th Century in recent history alone.

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