Keir Starmer has signalled that Labour will back plans to increase corporation tax from 2023, reiterating the party’s opposition to immediate tax rises that caused a backlash from the left. Starmer and the shadow chancellor, Anneliese Dodds, had voiced strong opposition to tax rises in the week leading up to the budget, including when pressed on a proposed increase to corporation tax. “So it’s right that corporation tax isn’t rising this year or next. Of course in the long run corporation tax should go up. The decade-long corporation tax experiment by this government has failed.”At the last election under Jeremy Corbyn’s leadership, Labour planned to raise corporation tax to 26%, staggered over three years.

Source: The Guardian March 03, 2021 15:47 UTC