Labour Gains Support from Business Leaders as Tories' New Pension Tax Cut Sparks Controversy
Labour has garnered support from 120 business leaders who back the party for its stability and growth-focused strategy. Meanwhile, the Tories have proposed a 'triple lock plus' tax cut for pensioners, estimated to cost £2.4bn annually by 2029. Labour criticized the move, questioning its feasibility due to the high tax burden.
Today, 120 prominent business leaders have publicly endorsed the Labour Party, highlighting their expectations for fiscal discipline partnered with long-term economic growth.
Signatories include executives from major companies like JP Morgan, Heathrow, Aston Martin, JD Sports, Iceland, and WPP, alongside notable figures like Wikipedia's Sir Jimmy Wales and restaurateur Tom Kerridge.
Labour's shadow chancellor, Rachel Reeves, emphasized this support as crucial for achieving the UK's full economic potential.
In contrast, the Conservative Party announced a 'triple lock plus' tax cut for pensioners, aiming to gain favor with elderly voters.
The policy will ensure pensioners' tax allowances rise in line with the highest of earnings, wages, or 2.5%, costing an estimated £2.4bn annually by 2029-30.
Labour criticized the move as desperate, questioning the feasibility given the highest tax burden in 70 years.
Signatories include executives from major companies like JP Morgan, Heathrow, Aston Martin, JD Sports, Iceland, and WPP, alongside notable figures like Wikipedia's Sir Jimmy Wales and restaurateur Tom Kerridge.
Labour's shadow chancellor, Rachel Reeves, emphasized this support as crucial for achieving the UK's full economic potential.
In contrast, the Conservative Party announced a 'triple lock plus' tax cut for pensioners, aiming to gain favor with elderly voters.
The policy will ensure pensioners' tax allowances rise in line with the highest of earnings, wages, or 2.5%, costing an estimated £2.4bn annually by 2029-30.
Labour criticized the move as desperate, questioning the feasibility given the highest tax burden in 70 years.
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