Category Archives: Tax and spending

General election: Boris Johnson urges voters to reject ‘Sturgeon-Corbyn alliance’ – as it happened

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The prime minister delivers the first big set-piece speech of the campaign as Labour pledges £26bn extra per year for NHS

That’s all from us for this evening. Thanks for reading and commenting. For a comprehensive rundown of the day’s events, see my colleague Andrew Sparrow’s daily election briefing:

Related: Andrew Sparrow's election briefing: Johnson won't change Brexit stance to please Farage

Related: Boris Johnson heckled over floods but does not apologise for 'slow response'

Hoey also said complained that MPs had spent the last two years trying to thwart Brexit, telling LBC:

We’ve had two years of parliament – a remain parliament – doing everything they can to stop us leaving; by different methods and some not so serious as others. But most of the Labour MPs in there and a substantial number of Conservatives have tried to stop it.

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Tories and Labour warned over ambitious spending promises

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Returning infrastructure investment to 1970s levels may be undeliverable, says IFS

Labour and the Conservatives have triggered a public spending bidding war, promising massive programmes of borrowing that will return public investment to levels last seen in the 1970s, according to Britain’s leading experts on the public finances.

The Institute for Fiscal Studies said plans unveiled by Sajid Javid, the chancellor, and John McDonnell, his Labour shadow, would represent a decisive break with the past, but warned that a future government might have trouble delivering projects on the scale envisaged.

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Super-rich prepare to leave UK ‘within minutes’ if Labour wins election

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Wealthy see potential taxes imposed by Jeremy Corbyn as bigger threat than Brexit

The super-rich are preparing to immediately leave the UK if Jeremy Corbyn becomes prime minister, fearing they will lose billions of pounds if the Labour leader does “go after” the wealthy elite with new taxes, possible capital controls and a clampdown on private schools.

Lawyers and accountants for the UK’s richest families said they had been deluged with calls from millionaire and billionaire clients asking for help and advice on moving countries, shifting their fortunes offshore and making early gifts to their children to avoid the Labour leader’s threat to tax all inheritances above £125,000.

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Bob Geldof’s firm’s use of tax haven is legal, but the system hurts African nations

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Private equity company 8 Miles channels funds through Mauritius in a ‘depressingly routine’ arrangement

At their closest point, Europe and Africa are just eight miles apart. That’s the inspiration for the name of Sir Bob Geldof’s private equity firm, 8 Miles, set up to channel investment into successful businesses in Africa.

But we learned last week that 8 Miles’ cash travels considerably further than this on its way from one continent to the other. It has established a cluster of companies in Mauritius, in the Indian Ocean, which funds pass through.

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UK aid funding must not be privatised | Letter

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Proposals to refocus aid as private investment could weaken support for vulnerable people worldwide, says Claire Godfrey

Proposals by the international development secretary, Penny Mordaunt, to refocus UK aid towards for-profit investment risks weakening support for the people who need our help the most, and compromising the work Britain does to make the world a safer, healthier and more just place to live in (Report, 30 January). The Department for International Development has a long-standing history and reputation as a world leader in helping millions of people worldwide to access clean water, healthcare, better jobs and education. DfID’s focus on ending extreme poverty has secured a global reputation that Britain is proud of and one which we continue to champion. Any move to expand the role of private investment in international development must reflect the basic and shared human values underlying charity, humanitarian aid and development, and not prioritise the pursuit of profit over tackling poverty.
Claire Godfrey
Head of policy and campaigns at Bond, which represents over 400 UK NGOs working in humanitarian aid and development

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Penny Mordaunt criticised over call for aid to come from private sector

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International development secretary says she wants DfID to become more a fundraising than a spending department

Penny Mordaunt has been criticised by charities and MPs for suggesting the government’s international development spending should become more reliant on private sector investment and philanthropy.

The international development secretary told cabinet ministers she would aim for her department to become a fundraising department rather than a spending department, telling them it was unsustainable to continue to meet the spending target with taxpayer cash.

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