John McDonnell MP, Labour’s Shadow Chancellor, commenting on the latest Resolution Foundation report on wealth taxes and subsidies, said:
“Today’s report from the Resolution Foundation is a much-needed debate on tax reform.
“Labour is committed to conducting a review of tax reliefs in government and we consistently call for Entrepreneurs Relief to be reviewed and evaluated against its effectiveness. We have also produced a Tax Transparency and Enforcement Programme that will close loopholes and flush out tax avoiders and evaders from the system.
“Labour will create a fair tax system that will get the rich and giant corporations to pay a little more to end austerity, fund our public services properly, and build an economy that works for the many, not the few.”