IFS: Labour’s tax plans don’t add up 

The Inistute of Fiscal Studies has slammed Labour’s plans to raise £50 billion, CityAM reports. Speaking on the BBC’s Today programme IFS director Paul Johnson said: “They can’t raise the £50bn they say they would raise just from the increases that they say, so you can’t raise that amount of money just by taxing companies and a little bit on the rich…It absolutely doesn’t add up.”

Adding: “In the short run you might be able to get quite a lot of it – whilst you couldn’t get the £50bn, in the short run you might get £30bn or £40bn and that is quite a lot, but in the long run, again you would probably be reducing investment.”

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