Jeremy Corbyn slams Labour’s Budget as he issues tax warning
Corbyn delivers Budget verdict as Reeves raises taxes to record high
- Jeremy Corbyn criticised Rachel Reeves' Budget, stating it does not go far enough to tax high earners.
- The Chancellor's Budget includes an extension to the freeze on income tax thresholds from 2028/29 onwards.
- This decision is intended to help fill a £20bn deficit in public finances, projected to raise £8bn by 2029-30.
- The freeze is expected to result in one in four workers being drawn into the highest tax band.
- Corbyn claimed that Reeves' policy effectively means 'higher tax for the lowest earners', with an additional 780,000 people paying tax for the first time.