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2 Feb, 2018 18:18

Tories challenged to release tax returns as Corbyn reveals what’s in his wallet

Tories challenged to release tax returns as Corbyn reveals what’s in his wallet

Labour leader Jeremy Corbyn has challenged British PM and rival Theresa May to publish her full tax return. Corbyn made his own financial affairs public when he released details of his £136,762 income.

In the year between 2016-17 Corbyn paid £50,000 tax. Apart from his salary and pensions, Labour’s chief had no other income.

Shadow chancellor John McDonnell paid £24,099.20 in tax on a total income of £87,353.

May has not released her tax returns since the 2016 leadership race, and this has not gone unnoticed. May revealed she earned £112,426 in 2014-15, plus £617 in interest and £5,419 in dividends, while giving £685 to charity.

Jeremy Corbyn has rounded on May and her fellow Tories, including Chancellor Philip Hammond to follow suit.

The 68-year-old opposition leader said: “Tax avoidance and evasion deprive our public services of tens of billions of pounds every year and will only be tackled if we have the political will to do it,” he said. “We cannot expect the public to trust us as party leaders if we are not prepared to be open and honest about our own tax arrangements.”

McDonnell said: “I have again published my full tax return. I have done this every year as shadow chancellor because I believe if you aspire to be in charge of the nation’s finances then you should be as open and transparent about your own income as possible."

He added: “It is right that people in high office are subject to a high degree of scrutiny and I call on the prime minister and chancellor to follow suit and publish their tax returns in full.”

Philip Hammond MP, the Conservative Chancellor of the Exchequer has declined to detail his earnings and tax paid.

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