Labour Party conference latest: Keir Starmer hints at targeting wealthy with tax increase on stocks and shares

The Labour Party’s economic plans are “hugely different” to the Conservative Party’s, Sir Keir Starmer has said. 

He told Times Radio: “We’ve got two rules that we put in place last year, which was we would pay for day-to-day spend, we would borrow to invest.

“If we look at the package that the Government has put on the table, we would not cut the top rate [of income tax] from 45 per cent to 40 per cent, we would cancel the tax cut for corporation tax.”

Labour would also extend the windfall tax on the excess profits of oil and gas companies. 

“We are a long, long way from the Government and we’ve got clear fiscal rules,” Sir Keir said. 

“We are the party of fiscal responsibility – the Government has lost control of the economy.”