UK's labour party vows to bring back 45% income tax rate

The Labour leader said the move to cut the top rate of tax was unfair because it handed someone earning £1 million a £55,000 tax cut. "I would reverse the decision they made," Labour leader Starmer told the BBC. Labour will use this week's conference to set out dividing lines on key policy issues after the government announced large tax cuts, huge increases in borrowing and the scrapping of caps on bankers' bonuses.

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