As new analysis showed Labour’s share grab could cost business £25billion over ten years, the PM warned its plans for mass nationalisation of industries and the culling of high-paid bosses would trigger mass job losses and scare off investors.
She singled out John McDonnell’s pledge to give workers up to £500 each per year under plans to force large firms to hand over 10 per cent of their dividends and shares – with the leftovers going directly to the state.
The Prime Minister said this would be a double tax whammy – hitting businesses and households.
Speaking to reporters on the plane to New York last night, she blasted: “In effect it would be both a tax on companies and potentially a tax on people because what he’s saying is if this is given to people he’ll cap the amount that people can actually take out of it and the rest of it will go to the state.
“That's not helping people, that’s putting his hands in people’s pockets.”
She added: “On the question of Jeremy Corbyn and some of the policies that we’re seeing come out of the Labour party, I think frankly what we’re seeing is policies that would not be good for our economy, policies that would lead – as we’ve heard from others in business — to loss of jobs and probably loss of investment in the UK.
“And if we’re going to build that brighter future, create the jobs that ensure we have an economy working for everyone, we need that investment and we need those jobs being created by business.”
Shadow Chancellor John McDonnell on Monday unveiled plans for a “social dividends” tax paid for by grabbing 10 per cent of the shares of every company with more than 250 staff.
The Financial Times yesterday said while workers would get up to £500 a year it would generate £25billion for the Treasury from the biggest 100 companies on the stock market alone over the next decade.
The Sun Says: Labour of hate
Theresa May once said the Tories were known as “the nasty party”, but this week’s Labour Conference has shown it’s the socialists that deserve that title.
It seems almost every member to take the stage has been driven only by anger and envy.
One teaching assistant, whose unpleasantness was matched only by his stupidity, called for increased school spending so no “evil” kids could grow up to vote Conservative.
One union boss declared that he got up early just so he could hate Margaret Thatcher for a little longer in the day.
Even Emily Thornberry admits the party is riddled with racists and fascists.
It’s clear that for all Jeremy Corbyn’s claims of a “kinder, gentler politics”, these zealots haven’t changed a jot since they tried to destroy the country in the Seventies and Eighties.
Economically illiterate, morally bankrupt and downright ugly.
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