Labour would back a gradual increase in corporation tax across this parliament, the shadow chancellor has indicated after a week of criticism over the party’s assertion that tax rises should be off the table. “When the Conservatives have raised the personal allowance in the past, it has helped the best-off more than others,” a Labour source said. Dodds had been more hesitant about endorsing any future tax rises at a video speech hosted by Bloomberg on Monday. “Now is not the time for immediate tax rises,” she said. However, she conceded there was an argument in favour of raising corporation tax.

Source: The Guardian March 01, 2021 18:11 UTC