‘Rich will pay more’ under Labour – John McDonnell

John McDonnell People earning above £70,000 a year could be asked to pay more tax under a Labour government, shadow chancellor John McDonnell has suggested.

He said he wanted to see a “fair taxation system” with corporations and the rich paying more.

Labour is also planning to link senior executives’ pay to the average wage of the workers in the same company.

Mr McDonnell said a fair taxation system would see “the corporations and the rich pay their way more”.

“That means ending the tax giveaways to the corporations and also those in inheritance tax, capital gains tax and the bankers’ levy – all of those giveaways under this government,” he told BBC Radio 4’s Today programme.

“The rich will be above £70,000 to £80,000 a year – and that’s roughly defined as what people feel is an earning whereby people feel they can pay more.”

Mr McDonnell said middle and low earners were “being hit very hard” with a combination of income tax rises and “attempts by this government to increase National Insurance payments on the self-employed”.

Less than a week after announcing them in last month’s Budget, Chancellor Philip Hammond dropped plans to make self-employed people pay more National Insurance after they were criticised for breaking a 2015 manifesto pledge.

Mr McDonnell said Labour would go into the election promising to cap senior executives’ pay with the introduction of “a pay ratio”.

“That in itself will set a cap in terms of what the maximum earning will be within that company in relation to an average worker’s pay, because we believe in fairness within our economy,” he said.

Mr McDonnell said Theresa May’s decision to seek an early election was more about the risk of an economic downturn than securing a mandate for her plans on leaving the European Union.

“I don’t think this election is about Brexit,” he said. “The government has seen that the economy at the moment is going to turn.

“We are seeing inflation increasing – we are seeing wages stagnate and we are seeing people in heavy debt as a result of that.”

Labour’s approach to Brexit talks would aim to secure “tariff-free access to the single market” and a managed and fair immigration system from the EU.

On future customs arrangements, Mr McDonnell said: “We want to maximise the benefits that we currently get from the customs union – that does not necessarily mean full membership of the customs union.”

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Shadow cabinet: The comings and goings under Corbyn, and the current line-up

It’s been a torrid 18 months for Jeremy Corbyn, at least in terms of shadow cabinet manoeuvres. A flurry of resignations in the run-up to the recent Brexit Bill forced the Labour leader to announce his fourth re-shuffle since taking charge.

Four roles in particular have seen the greatest turnover, each with four MPs filling these positions since September 2015, when Mr Corbyn took charge. The latest re-shuffle puts newcomers Rebecca Long-Bailey and Christina Rees into two of these roles.

The new line-up in fullLeader of the OppositionImage copyright PA Shadow chancellorImage copyright PA Current holder: John McDonnell Previous holders under Jeremy Corbyn: NoneCorbyn supporter? Yes – in 2015 and 2016Deputy leader/shadow culture, media and sportImage copyright PA Current holder: Tom WatsonPrevious holders under Jeremy Corbyn: Three shadow culture ministers (Michael Dugher, Maria Eagle, Kelvin Hopkins)Corbyn leadership backer? Did not nominate anyone Shadow home secretaryImage copyright PA Current holder: Diane AbbottPrevious holders under Jeremy Corbyn: One (Andy Burnham)Corbyn leadership backer? Yes – in 2015 and 2016Shadow foreign secretaryImage copyright PA Current holder: Emily ThornberryPrevious holders under Jeremy Corbyn: One (Hilary Benn)Corbyn leadership backer? Yes – in 2015 and 2016Shadow Brexit Image copyright Reuters Current holder: Sir Keir StarmerPrevious holders under Jeremy Corbyn: One (Emily Thornberry – in addition to her foreign affairs brief)Corbyn leadership backer? No – backed Andy Burnham in 2015 and Owen Smith in 2016Shadow justice Image copyright PA Current holder: Richard BurgonPrevious holders under Jeremy Corbyn: One (Lord Falconer)Corbyn leadership backer? Yes – in 2015 and 2016Shadow business, energy and industrial strategy Image copyright Getty Images Current holder: Rebecca Long-BaileyPrevious holders under Jeremy Corbyn: Three (Angela Eagle, Jon Trickett, Clive Lewis)Corbyn leadership backer? Yes – in 2015 and 2016Shadow health Image copyright Getty Images Current holder: Jon Ashworth Previous holders under Jeremy Corbyn: Two (Heidi Alexander, Diane Abbott)Corbyn leadership backer? No – backed Yvette Cooper in 2015 and no-one in 2016Shadow education Image copyright Getty Images Current holder: Angela RaynerPrevious holders under Jeremy Corbyn: Two (Lucy Powell, Pat Glass)Corbyn leadership backer? No in 2015 – backed Andy Burnham. Yes in 2016Shadow lord president of the councilImage copyright PA Current holder: Jon TrickettPrevious holders under Jeremy Corbyn: NoneCorbyn leadership backer? Yes – in 2015 and 2016Shadow defence Image copyright Labour Party Current holder: Nia GriffithPrevious holders under Jeremy Corbyn: Three (Maria Eagle, Emily Thornberry, Clive Lewis)Corbyn leadership backer? No – backed Andy Burnham in 2015 and Owen Smith in 2016Shadow communities and local government Image copyright Labour Party Current holder: Teresa PearcePrevious holders under Jeremy Corbyn: Two (John Trickett, Grahame Morris)Corbyn leadership backer? No – backed Andy Burnham in 2015 and Owen Smith in 2016 Shadow environment, food and rural affairsImage copyright Labour Party Current holder: Sue HaymanPrevious holders under Jeremy Corbyn: Two (Kerry McCarthy, Rachael Maskell)Corbyn leadership backer? No – backed Yvette Cooper in 2015 and Owen Smith in 2016Shadow international tradeImage copyright Labour Party Current holder: Barry GardinerPrevious holders under Jeremy Corbyn: NoneCorbyn leadership backer? Did not nominate Shadow international developmentImage copyright Getty Images Current holder: Kate OsamorPrevious holders under Jeremy Corbyn: One (Diane Abbott)Corbyn leadership backer? Yes – in 2015 and 2016Shadow transport Image copyright Labour Party Current holder: Andy McDonaldPrevious holders under Jeremy Corbyn: One (Lilian Greenwood)Corbyn leadership backer? No in 2015 – backed Andy Burnham. Yes in 2016Shadow work and pensionsImage copyright Labour Party Current holder: Debbie AbrahamsPrevious holders under Jeremy Corbyn: One (Owen Smith)Corbyn leadership backer? Backed Andy Burnham in 2015Shadow cabinet office Image copyright Labour Party Current holder: Ian LaveryPrevious holders under Jeremy Corbyn: One (Tom Watson) Shadow voter engagement and youth affairs Image copyright Labour Party Current holder: Catherine SmithPrevious holders under Jeremy Corbyn: One (Gloria de Piero)Corbyn leadership backer? Yes in 2015Shadow Northern Ireland and Scotland Image copyright Labour Party Current holder: David AndersonPrevious holders under Jeremy Corbyn: One in either role (Vernon Coaker, Ian Murray)Corbyn leadership backer? Backed Andy Burnham in 2015Shadow WalesImage copyright Labour Party Current holder: Christina ReesPrevious holders under Jeremy Corbyn: Three (Nia Griffith, Paul Flynn, Jo Stevens)Corbyn leadership backer? No – backed Andy Burnham in 2015 and Owen Smith in 2016Shadow Commons leader Image copyright Labour Party Current holder: Valerie VazPrevious holders under Jeremy Corbyn: Two (Chris Bryant, Paul Flynn)Corbyn leadership backer? Backed Andy Burnham in 2015Shadow chief whipImage copyright Labour Party Current holder: Nick BrownPrevious holders under Jeremy Corbyn: One (Dame Rosie Winterton)Corbyn leadership backer? Backed Yvette Cooper in 2015Shadow minister without portfolioImage copyright Labour Party Current holder: Andrew GwynnePrevious holders under Jeremy Corbyn: One (Jonathan Ashworth)Corbyn leadership backer? No – backed Andy Burnham in 2015 and Owen Smith in 2016 Shadow chief secretary to the TreasuryImage copyright Goodman/LNP/REX/Shutterstock Current holder: Peter DowdPrevious holders under Jeremy Corbyn: Two (Seema Malhotra, Rebecca Long-Bailey)Corbyn leadership backer? Backed Andy Burnham in 2015Shadow housing secretaryImage copyright PA Current holder: John HealeyPrevious holders under Jeremy Corbyn: None (He resigned in June 2016 but returned to the role in October)Corbyn leadership backer? No – backed Yvette Cooper in 2015 and Owen Smith in 2016Shadow attorney generalCurrent holder: Baroness ChakrabartiPrevious holders under Jeremy Corbyn: Two (Catherine McKinnell, Karl Turner)Corbyn leadership backer? She only joined Labour in May 2016Shadow women and equality Image copyright Getty Images Current holder: Sarah ChampionPrevious holders under Jeremy Corbyn: 2 (Kate Green, Angela Rayner) Corbyn leadership backer? Backed Corbyn in 2015Shadow mental health and social careImage copyright Labour Party Current holder: Barbara KeeleyPrevious holders under Jeremy Corbyn: One (Luciana Berger)Corbyn leadership backer? No – backed Andy Burnham in 2015 and Owen Smith in 2016Shadow leader in the LordsCurrent holder: Baroness SmithPrevious holders under Jeremy Corbyn: NoneCorbyn leadership backer? Not an MPShadow chief whip in the LordsCurrent holder: Lord BassamPrevious holders under Jeremy Corbyn: NoneCorbyn leadership backer? Not an MP

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