Corbyn Pledges to Raise U.K. Corporation Tax to Fund Schools
- Labour would raise rate to 21% next year; 26% in 2020
- May’s Conservatives plan to lower rate to 17% by 2020
Labour Party leader Jeremy Corbyn speaks during a campaign event on May 9, 2017 in Morley, England.
Photographer: Dan Kitwood/Getty ImagesThis article is for subscribers only.
U.K. Labour Party leader Jeremy Corbyn on Wednesday will outline plans to raise corporation tax by more than a third over the next three years and plow the proceeds into schools and universities as he seeks to shore up support before the June 8 general election.
Trailing badly in the polls to Prime Minister Theresa May’s Conservatives, Corbyn will announce a series of pledges on education at a campaign event in Leeds, northern England. Promises will include raising school budgets, reducing class sizes and restoring grants for university students, according to an emailed party statement.