Labour will crack down on tax avoidance

Labour has announced its plans to undertake the biggest crackdown on tax avoidance in this country’s history, and introduce a ‘Robin Hood Tax’ on financial transactions as part of its plan to build a Britain for the many, not the few.

Labour’s plans will create a fairer tax system and raise billions in extra government revenue to fund investment in our public services after years of Conservative cuts.

Our programme of tax reform will clamp down on tax avoidance, freeing up billions for our public services.

The Conservatives stand up only for a few. They have failed to tackle tax avoidance. Under them the tax gap has grown to £36 billion. Tax evasion has been up every year since 2010.

By making those who trade in financial derivatives pay a small fraction of their profits, we can help properly fund our public services. While the Conservatives give tax breaks to those at the very top, Labour will protect lower and middle income earners. Labour’s plan will protect 95 per cent of people from any rises in income tax, National Insurance and VAT, and build a Britain for the many, not the few

Labour will close the loopholes, clamp down on the tax havens, and shine a light on the illicit activities of those seeking to duck their responsibilities. We will use the money raised to invest in public services and build an economy for the many, not the few.

Under the Tories we’ve seen seven years of failure on housing

Tory claims that they want to build more affordable homes are all spin, no substance. They have given no commitment on the number of new homes and no promise of new funding.

  • The level of new affordable housebuilding is now at a 24-year low.
  • The number of government funded social rented homes being built has fallen to fewer than 1,000 last year from almost 40,000 under Labour in 2009-10.
  • The number of home-owners has fallen by 200,000, homelessness has more than doubled and new affordable housebuilding is at a near-record low.

The Tories should be judged on their record on housing and it’s a record of seven years of failure:

Labour will back first-time buyers and build the homes we need, including 100,000 genuinely affordable homes to rent and buy a year by the end of the next Parliament.

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