Luke Pollard

Labour & Co-operative MP for Plymouth Sutton and Devonport

Labour won't raise VAT

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Ed Balls revealed another one of Labour's manifesto pledges today: we won't raise VAT if we win in May.

Remember before the last general election the parties were being asked if they would raise VAT if they won and the Tories and Lib Dems said they wouldn't. When they got into power they hiked VAT to 20%.

VAT is a regressive tax. That means it hits the poorest the most as it takes the larger share of their income when compared to those at the top.

There's a big blackhole in the Tory's tax and spend plans for the next Parliament. They won't tell us how they will fund their unfunded £7bn of tax cuts for the rich. And they're not telling us how they will put an additional five years worth of cuts into just three years.

Labour fears they'll do this by raising VAT - a tax the Tories love to hike - and by cutting the NHS.

Labour won't raise VAT and we'll invest more in the NHS. There's a clear choice at this election between Labour and the Tories and your vote in Plymouth Sutton and Devonport will help decide what course our country is on. 

Let me know your thoughts about VAT in the comments below.

UPDATE

Ed Balls has today announced that Labour won't increase VAT or National Insurance if we win in May. 

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