According to Tom Harwood’s mini-budget tracker, Labour is now more low tax than the government. After U-turning on the 45p rate, corporation tax and now set to backtrack on 19p – something Labour’s come out in favour of – Jeremy Hunt seems to be the new face of the anti-growth coalition.
My my calculations, the Tories now oppose more fiscal measures in their mini budget by value than Labour does. pic.twitter.com/hSmqmfTz7m— Tom Harwood (@tomhfh) October 15, 2022
Ahead of this morning’s emergency Hunt statement, Guido thought it was worth asking Labour whether they’re still in favour of bringing forward the 19p rate. Here’s what he got back:
“We support it yes, always want lower taxes for working people. But might now be unaffordable given the damage they’ve done. Who knows what measures will survive in the coming two weeks.”
Reading between the lines it sounds like they’re not going to oppose the government’s latest U-turn…