Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Labour mulls second Brexit referendum in manifesto

Labour mulls second Brexit referendum in manifesto

Labour is considering a referendum on the future Brexit deal in a bid to win over support from remain voters, according to a report in the Times, as it looks set to make a big push to the left in its manifesto.

The Party has been facing the difficult task of securing votes from those who did not vote for Brexit in last year’s referendum.

In an effort to try and win over support from these voters the Party is mulling a plan for a second referendum as part of its election manifesto, the Times has reported.

However this idea has not yet got the backing of the leader of the opposition Jeremy Corbyn, the report said. At yesterday’s Prime Minister’s Questions (PMQs) Corbyn did not raise the issue of Brexit.

Labour is yet to release its manifesto but many are expecting it to be very leftwing, with the Financial Times tipping it to be the most leftwing since 1983 when Michael Foot was defeated.

Speaking on BBC’s Today programme yesterday, the shadow chancellor John McDonnell said he wanted to create a tax system where the rich ‘pay their fair share’.

‘We want a fair system of taxation to pay for our public services. I think there is a general view that middle and low earners are being hit very hard by income tax rises and the burden that is placed on them by stealth taxes. What we want is a system which is fair, so corporations and rich pay their fair share,' he told the BBC.

The shadow chancellor said Labour defined rich as earning above £70,000 a year.

McDonnell also said Labour make a pay ratio part of its manifesto for the election in June.

According to previews of a speech Corbyn will make today shared to the Guardian, the Labour leader will say: ‘We will overturn this rigged system. The Conservatives will never do that. If I were Southern Rail or Philip Green [chairman of Arcadia Group], I’d be worried about a Labour government.’

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter