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

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

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

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.'

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

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