Jeremy Corbyn slams Labour’s Budget as he issues tax warning

Jeremy Corbyn slams Labour's Budget as he issues tax warningSource: GB News

Transcript

00:00Of course, ending the two-child benefit cap is welcome.

00:03It should never have been there in the first place,

00:05and it should have been abolished the moment Labour went into office,

00:08but it wasn't, so we've had an extra year of child poverty.

00:11That's a good thing, but by not raising the income tax threshold,

00:15it means more people will be brought into taxation

00:18who are the very lowest earners,

00:19and that's going to go on for another six years.

00:22And so what Rachel Reeves has baked in

00:26is higher tax for the lowest earners.

00:30For the next six years.

00:33The other thing missing was any wealth tax.

00:36The mansion tax won't have much effect on the very wealthiest people,

00:40but a wealth tax of 2% on disposable wealth over £10 million

00:45would bring in over £20 billion a year.

00:48That would help a great deal to fund what I believe is the most essential thing,

00:53which is a council house building programme.