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Labour to target ‘rich’ people earning over £70k, but is £70k really that rich?

PUBLISHED: 14:46 19 April 2017 | UPDATED: 14:46 19 April 2017

Labour's shadow chancellor John McDonnell (Picture: Danny Lawson/PA)

Labour's shadow chancellor John McDonnell (Picture: Danny Lawson/PA)

Archant

As the Labour party prepares its manifesto for the snap election shadow chancellor John McDonnell has said he will look to slap higher taxes on big companies and “rich” people earning over £70,000.

Speaking to BBC Radio 4’s Today programme this morning, McDonnell said that under Labour’s plans for a “fair system of taxation” he would “be looking to the rich to pay their share”.


Asked how he defined the rich, he said: “The rich will be above £70,000-£80,000.”

MORE: How much each party spent trying to get your vote in Norfolk and Suffolk at the last General Election

But is somebody who earns over £70,000 really that rich? Let us know your thoughts in the comments below.

MORE: East Anglia’s business leaders react to Theresa May calling snap general election

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