This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/election-2017-39930865

The article has changed 18 times. There is an RSS feed of changes available.

Version 7 Version 8
Labour manifesto: Income tax to increase for earners over £80,000 Labour manifesto: Extra £48.6bn in tax revenue to fund pledges
(35 minutes later)
An extra £6.4bn would be raised from income tax under plans in Labour's general election manifesto. Labour has unveiled pledges costing £48.6bn - to be funded from extra tax revenue - in its election manifesto.
The rate would increase to 45p for people earning over £80,000, and 50p those on more than £123,000, "to help fund our public services". Leader Jeremy Corbyn said the manifesto - including billions for schools and the NHS and an expansion of free childcare - was a "programme of hope".
Labour said the total extra tax take - which also includes corporation tax rises and a crackdown on tax avoidance - would be £48.6bn. Income tax would increase to 45p for people earning over £80,000, and 50p for those on more than £123,000.
Jeremy Corbyn said the manifesto was a "programme of hope". It also includes the nationalisation of England's 10 water companies and scrapping university tuition fees.
Other measures include an "excessive pay levy" on salaries above £330,000, more free childcare and the nationalisation of England's 10 water companies. Labour said all the pledges were costed, with other fundraising measures including corporation tax rises, a crackdown on tax avoidance and an "excessive pay levy" on salaries above £330,000.
The Tories said the sums "don't add up".The Tories said the sums "don't add up".
"Whatever your age or situation, people are under pressure, struggling to make ends meet," Mr Corbyn said as he launched the proposals in Bradford."Whatever your age or situation, people are under pressure, struggling to make ends meet," Mr Corbyn said as he launched the proposals in Bradford.
"Our manifesto is for you.""Our manifesto is for you."
Labour is the first of the major parties to publish its manifesto ahead of the general election on 8 June.Labour is the first of the major parties to publish its manifesto ahead of the general election on 8 June.
Mr Corbyn joked about last week's leak of a draft of the proposals as he said Labour would not increase VAT or National Insurance, with income tax rises reserved for the "richest 5% of high earners". Mr Corbyn joked about last week's leak of a draft of the proposals and then said Labour would not increase VAT or National Insurance, with income tax rises reserved for the "richest 5% of high earners".
The manifesto also includes:The manifesto also includes:
Mr Corbyn said he was confident that once voters could "study the issues" they would conclude: "That the few have prevailed over the many for too long.Mr Corbyn said he was confident that once voters could "study the issues" they would conclude: "That the few have prevailed over the many for too long.
"And that they will decide it is now time for Labour.""And that they will decide it is now time for Labour."
'Distinctive choice' Analysis: They're not 'all the same'
By political correspondent Iain Watson BBC political editor Laura Kuenssberg
Don't be distracted too much by the detail. Labour's manifesto will have policies on everything from preserving the bee population to the provision of wifi on public transport. I've said it before and I'll say it again.
And don't be mesmerised by what's known in political circles as "retail offers" - price caps and fare freezes. This is not an election where voters can say, with justification, "they are all the same".
Taken together, Labour's prospectus offers the most distinctive choice for voters in a generation. At its core are three interlinked arguments: first that austerity holds back - rather than helps - economic growth, so Labour would borrow billions for investment. The just-launched Labour manifesto shows, in black and white, why that is simply not the case.
Second, that the better off - not necessarily the fabulously wealthy - along with many businesses should pay more in tax to meet the day to day cost of providing public services. The party is including £48.6bn of extra tax rises, and the same in extra spending commitments.
And third, that more regulation - and in some cases re-nationalisation - would ensure businesses operated in the interests both of consumers and the wider economy. In the coming hours, the details will be pored over at length; they matter enormously.
Those close to Jeremy Corbyn believe this programme places Labour not on the far left of politics but in the mainstream of northern European social democratic thinking. Now there will be a bit of political cross-dressing in this campaign, with the Conservatives under Theresa May showing a bit more enthusiasm for limited state intervention. But the big picture is clear.
But the Labour manifesto will break with what's often known as the Anglo-Saxon economic model of lower taxation and flexible labour markets and in doing so, the party is distancing itself not just from the Conservatives but from its New Labour predecessor too. Jeremy Corbyn is taking the Labour Party in this election to a very different place - away from the recent consensus that the UK should be moving to lower borrowing, and lower taxation.
The water industry, which was sold off in 1989 by the government of Margaret Thatcher, would be taken into public ownership either by simply buying the shares of the existing companies or by a compulsory measure whereby companies would have to be given government bonds in exchange for the shares. The manifesto spells out a vision, for good or for ill, of more spending, more tax, and more borrowing.
There will also be a commitment in the manifesto to provide 30 hours of free childcare for all two to four-year-olds, covering 1.3 million children. And in a big way.
Labour has already made a series of tax pledges, including increasing corporation tax by 19% to 26%, a "Robin Hood" tax on financial transactions and asking the top 5% of earners to pay more, to fund multi-billion pound spending commitments on health, education and policing. Under Labour's proposals the water industry, which was sold off in 1989 by the government of Margaret Thatcher, would be taken into public ownership either by simply buying the shares of the existing companies or by a compulsory measure whereby companies would have to be given government bonds in exchange for the shares.
The manifesto will also include a pay levy designed to discourage companies from paying "excessive" salaries. Labour has already made a series of tax pledges, including increasing corporation tax from 19% to 26%, a "Robin Hood" tax on financial transactions and asking the top 5% of earners to pay more, to fund multi-billion pound spending commitments on health, education and policing.
The manifesto also includes a pay levy designed to discourage companies from paying "excessive" salaries.
Companies paying staff more than £330,000 will pay a 2.5% surcharge while salaries above £500,000 will be charged at 5%. Labour has said the move, designed to reduce pay inequality by bearing down on "very high pay", will only apply to firms with "high numbers of staff".Companies paying staff more than £330,000 will pay a 2.5% surcharge while salaries above £500,000 will be charged at 5%. Labour has said the move, designed to reduce pay inequality by bearing down on "very high pay", will only apply to firms with "high numbers of staff".
The Conservatives said taxpayers would have to foot the bill for Labour's unfunded spending commitments. The Conservatives said taxpayers would have to foot the bill for Labour's spending commitments.
"Jeremy Corbyn's economic ideas are nonsensical," said Treasury minister David Gauke."Jeremy Corbyn's economic ideas are nonsensical," said Treasury minister David Gauke.
"It is clear that Labour would have to raise taxes dramatically because his sums don't add up.""It is clear that Labour would have to raise taxes dramatically because his sums don't add up."
Do you have any questions about Labour's manifesto? Send us your questions and a BBC journalist will investigate the most popular.Do you have any questions about Labour's manifesto? Send us your questions and a BBC journalist will investigate the most popular.
Use this form to ask your question:Use this form to ask your question: