Election debate Corbyn announces plans for 'wealth tax'Jeremy Corbyn was accused of 'fantasy economics' last night over plans to hit wealthier families to fund his manifesto giveaways. Watch The New Girlfriend Hindi Full Movie. The party is looking at a 'wealth tax' on the middle classes and an inheritance tax raid that could hit 2. Under other spending commitments, Mr Corbyn also suggested he may cut or even cancel student debt for anyone who has been to university in the past decade – as well as pledging to slash the price of rail tickets for commuters. Jeremy Corbyn was accused of 'fantasy economics' over plans to hit wealthier families to fund his manifesto giveaways.

It came just a day after the Labour leader admitted he couldn't remember the cost of a key childcare policy. Asked in last night's BBC TV debate whether his party's manifesto sums on public services add up, Mr Corbyn replied: 'I'm absolutely sure that they add up.'But Home Secretary Amber Rudd, who appeared instead of Theresa May, said: 'I just have to take on some of Jeremy Corbyn's fantasy economics.'She said he was spending a 'magic money tree' while handling Britain's finances like Monopoly money. It emerged yesterday that a Labour government would consider hitting the middle classes with a 'wealth tax' to pay for social care.

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Andrew Bridgen, Tory candidate for North West Leicestershire, said last night: 'It has been shown time and time again that Jeremy Corbyn's funding commitments don't add up. When it comes to inheritance tax and wealth taxes, how many times do Labour want to tax people on the same assets? As always, it is La La Land Economics for the Corbynistas.'It emerged yesterday that a Labour government would consider hitting the middle classes with a 'wealth tax' to pay for social care.

1. Corbyn's la-la-land economics: Labour leader announces plans for 'wealth tax' and bid to slash rail fares - but doesn't reveal how they would work or be paid for.
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The party's manifesto said Mr Corbyn – who this week appears on the front page of music paper NME – would look at the idea of imposing the levy on higher earners to raise an extra £3billion a year. The term 'wealth tax' means a charge upon the value of investments, including property. A leading think- tank said the plan could affect hundreds of thousands and could see some homeowners having to sell their home to pay huge tax bills. Last night Labour said that even though it is listed as an 'option' in the manifesto, a wealth tax was not official party policy and that it would only be introduced if there was cross- party consensus. Home Secretary Amber Rudd, who appeared instead of Theresa May, said: 'I just have to take on some of Jeremy Corbyn's fantasy economics'The manifesto lists a series of other options, including asking businesses to pay more to pay for care, or the imposition of a new 'social care levy'.

Any wealth tax would be on top of Labour's plans to hit those earning £8. The manifesto gives no indication of the rate that would be considered for a wealth tax or how many would be affected. But in France an annual tax of between 0. Five years ago, Shadow Chancellor John Mc.

Donnell suggested a one- off 2. Britain. Julian Jessop, of the Institute for Economic Affairs, yesterday said that around 3. He said: 'Wealth taxes might appeal to some on principle but they are a bad idea in practice.'Most wealth is tied up in property or pensions, meaning that many people would find it hard to pay a large tax bill without selling their homes or having less money to live on when they retire.'Anyone with shares in their own business may be forced to cash in earlier too.' The Labour manifesto said cash raised from a wealth tax would be used to fund a cap on the cost of social care, as well as free care for the terminally ill. A party spokesman said: 'A wealth tax is not Labour policy and we have no plans to introduce a wealth tax. The Tories are levying a bigger wealth tax in the dementia tax.'Last night the party also admitted it plans to hit tens of thousands more families with inheritance tax.

The Tory budget of 2. But Labour has pledged to 'reverse tax giveaways' – and last night confirmed it meant the threshold would return to £6. David Gauke, the Chief Secretary to the Treasury, said last night: 'Jeremy Corbyn has made endless spending promises pretending there is a magical money tree, but the truth is families would pay for his hard- left manifesto through higher taxes, more debt and a broken economy.'.

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