Wednesday, May 17, 2017

The Labour Manifesto

Under Jeremy Corbin, Britain's Labour Party is running under what the press is calling the most left-wing platform in thirty years. You can read their whole manifesto here.


  • Infrastructure investments, including new rail lines, electrification of existing lines, better insulation for 4 million government-owned  homes, broadband internet, and better mobile phone coverage
  • Higher taxes on the top 5% of earners: the burden would start to rise on earnings of more than £80,000 pounds (about $103,000), which would be taxed at 45%; earnings of more than  £123,000 would pay 50%. 
  • Higher corporate taxes: the basic corporate tax rate would rise from 19 percent to 26 percent, plus there  would be a “fat cat” tax that companies would pay on high salaries, 2.5% for £330,000 to £500,000, 5% on those above £500,000.
  • Re-nationalization of privatized industries, including rail lines, water services, and the Royal Mail.
  • An extra £30 billion for the National Health Service
  • Labor market reforms, including raising the minimum  wage to £10/hour ($12.88), a ban on unpaid internships and a requirement that all part-time employees be guaranteed a certain number of hours per week.

I thought is was really interesting that even the most left-wing major party manifesto in a generation says this:
Labour understands that the creation of wealth is a collective endeavour between workers, entrepreneurs, investors, and government.
As in America, rhetoric about socialism vs. raw capitalism masks arguments over raising or cutting taxes by 5% or 10% We truly live in a neoliberal age.

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