Labour will crack down on tax avoiders to pay for its commitments on schools and the NHS, the shadow chancellor has said.
The party will look to raise £5 billion a year by the end of the next Parliament by narrowing the “tax gap” – the difference between the amount of money HMRC is owed and the amount it actually receives.
It will also raise £2.6 billion over the next Parliament by closing “loopholes” in the Government’s plans to abolish exemptions for “non-doms”, people who are not “domiciled” in the UK for tax purposes.
The announcement comes a month after the party’s spending plans were thrown into disarray by the Chancellor’s decision to adopt two of its revenue-raising policies at the Budget to fund a cut in national insurance.
The two policies – abolishing “non-dom” tax exemptions and extending the windfall tax on oil and gas companies – had been earmarked by Labour to fund additional NHS appointments and free breakfast clubs for all primary school pupils.
Labour will crack down on tax avoiders to pay for its commitments on schools and the NHS, the shadow chancellor has said.
The party will look to raise £5 billion a year by the end of the next Parliament by narrowing the “tax gap” – the difference between the amount of money HMRC is owed and the amount it actually receives.
It will also raise £2.6 billion over the next Parliament by closing “loopholes” in the Government’s plans to abolish exemptions for “non-doms”, people who are not “domiciled” in the UK for tax purposes.
The announcement comes a month after the party’s spending plans were thrown into disarray by the Chancellor’s decision to adopt two of its revenue-raising policies at the Budget to fund a cut in national insurance.
The two policies – abolishing “non-dom” tax exemptions and extending the windfall tax on oil and gas companies – had been earmarked by Labour to fund additional NHS appointments and free breakfast clubs for all primary school pupils.
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