Income tax would need to rise by 4% to fund Labour’s £28 billion green spending pledge, according to Jeremy Hunt.
The Chancellor also claimed that an alternative approach to increase spending by £28 billion while sticking to fiscal rules would involve increasing corporation tax by 8%.
Mr Hunt’s remarks came as Labour leader Sir Keir Starmer said the funding package is “desperately needed” for his party’s mission to achieve clean power by 2030.
Labour originally promised in 2021 to invest £28 billion a year until 2030 in green projects if it won the next election.
But last year the party said the figure would instead be a target to work towards in the second half of a first parliament.
Subscribe to the Evening Standard: [ Ссылка ]
for latest breaking news from the UK, US and around the world, plus podcasts and features.
Evening Standard on socials:
Check out our full video catalog: [ Ссылка ]
Videos, daily editorial and more: [ Ссылка ]
Like us on Facebook: [ Ссылка ]
Follow us on Twitter: [ Ссылка ]
and Instagram: [ Ссылка ]
