Portugal triumphs at Eurovision for first time
Labour announced last night
that it will target City of London traders with a “Robin Hood” tax on financial deals if it wins power in next month’s general election. Jeremy Corbyn’s party said it would extend a current 0.5 per cent
stamp duty on share dealing to cover other forms of trading, and claimed the move could raise more than £5bn a year.
It comes after a leak of Labour’s draft manifesto revealed a slew of spending plans that include state ownership of railways and energy, and the reversal of some welfare cuts. Mr Corbyn later promised “full costings”
of the plans. The party, which according to polls faces a heavy defeat on 8 June, also announced a pledge to crack down on tax avoidance by the super-rich and divert the revenue to public services. It would force people earning over £1m a year to file returns publicly, and large companies to put tax records in the public domain at Companies House.