TPA responds to John McDonnell's speech

FOR IMMEDIATE RELEASE

Responding to the Shadow Chancellor’s speech, John O’Connell, Chief Executive of the TaxPayers’ Alliance, said:

“John McDonnell's plans for higher taxes and more public ownership would mean abject misery for families and businesses. Taxes are already at their highest level in nearly half a century, and even more punishment taxes will actually mean less cash for public services.

“The dangerous policy of seizing control of industry by the back door and nationalising everything they can get away with is a sure-fire way to scare off exactly the investment that Brexit Britain will need to thrive.

“Instead of hurting the poorest by undermining public services and damaging the businesses that employ them, McDonnell should embrace policies that will grow the economy by trusting individuals and entrepreneurs to spend their money better than any politician ever could.

“This speech shows that he doesn’t understand how his ideology will hurt people in the real world – and only cares about the failed ideas of the past, rather than helping the taxpayers of today and tomorrow.”