![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4930244.jpg?r=1693169260470\")
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Shadow Chancellor Rachel Reeves said Sir Keir Starmer\u2019s party has \u201cno plans to increase taxes outside of what we\u2019ve said\u201d.<\/p>\n
She also confirmed ditching an increase in the 45p top rate of income tax and said Labour would not bring in a mansion tax on costly properties or raise capital gains tax.<\/p>\n
But Conservatives warned Labour could not be trusted. Andrew Griffith, the Economic Secretary to the Treasury, told the Daily Express: \u201cFrom dreaming up new ways to hit motorists, the economic self-harm of taxing overseas investors to vindictive tax raids on private schools, the idea that Labour won\u2019t put up taxes is as plausible as a scam email about a lottery win.<\/p>\n
\u201cIt\u2019s just weeks since Rachel Reeves led Labour\u2019s opposition to our sensible decision to scrap the pensions cap.<\/p>\n
\u201cWhilst this Conservative Government is taking the tough choices to halve inflation and reduce debt precisely so that we can return to cutting people\u2019s taxes, Labour\u2019s unfunded spending plans would lead to higher taxes and a return to writing notes \u2018admitting there is no money left\u2019.\u201d<\/p>\n
Sir Bill Cash quipped that Labour\u2019s latest bid for voters \u201cis a bear trap\u201d and added: \u201cThe Labour Party always fails. Last time they had no money in the kitty at all and left us with a huge debt.<\/p>\n
\u201cAll they ever do is tax people. They fail on the economy every single time.\u201d MP David Jones added: \u201cHistorically the Conservatives have been the party of low taxes. Labour increase them.<\/p>\n
READ MORE <\/strong> 50,000 Britons dragged into paying \u2018unfair\u2019 inheritance tax<\/strong><\/p>\n \u201cAnyone minded to believe Labour\u2019s promises on taxation should look at what they do when they are in power. Sadiq Khan is penalising the least well-off Londoners by charging them \u00a312.50 every time they use their cars.\u201d<\/p>\n Former Cabinet minister Sir Jacob Rees-Mogg added: \u201cThe Labour Party believes in high taxation as it thinks the Government spend money better than individuals do. The Tories believe the opposite.\u201d<\/p>\n PM Rishi Sunak and Chancellor Jeremy Hunt meanwhile have been urged to cut taxes \u201cnow\u201d. Ex-Tory leader Sir Iain Duncan Smith said: \u201cTaxes are a mechanism to get growth. We need growth more now than we have for the last decade or so.<\/p>\n \u201cThere is a desperation in the British economy. The economy is being squeezed. We\u2019re squeezing it too much. And if we keep squeezing it too much, there will be no economy.<\/p>\n Don’t miss… <\/strong> We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n The only answer is to cut taxes. If we enter the next election without growth, our chances will be in the minus category.<\/p>\n \u201cWe left the EU to change the regulations and cut taxes. We should be doing that now. We have got to get taxes down.\u201d<\/p>\n Ms Reeves told a newspaper: \u201cI don\u2019t see a route towards having more money for public services that is through taxing our way there.<\/p>\n \u201cIt is going to be through growing our way there. And that\u2019s why the policies that we\u2019ve set out are all about how we can encourage businesses, big and small, to invest in Britain.\u201d<\/p>\n She also told the newspaper her preparations for office include \u201cspending an awful lot of time with businesses\u201d.<\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4930248.jpg?r=1693169260522\")
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