The U.K.'s opposition Labour party has taken aim at the country's billionaires, saying that the super-rich and big corporations have bankrolled the ruling Conservative Party in return for tax breaks.
The U.K.'s opposition Labour party has taken aim at the country's billionaires, saying that the super-rich and big corporations have bankrolled the ruling Conservative Party in return for tax breaks worth almost £100 billion .
Releasing a report entitled, "In the pockets of the few," on Monday night, Labour said its research showed that one-in-three of the U.K.'s billionaires had "bankrolled" Prime Minister Boris Johnson's Conservative Party. Left-wing Labour and the Conservatives, at the center-right on the political spectrum, stand far apart on their approaches to the U.K. economy but both have vowed big spending pledges to a British public that has been largely critical of austerity measures over the last decade.
Responding to the report, Conservative Treasury Minister Simon Clarke said in a statement that "Corbyn's Labour have revealed their true colours" and that only the Conservative Party would "get Brexit done and keep our economy strong." "If someone gave you £1 every 10 seconds, it would take you more than 300 years to become a billionaire. Someone on the national minimum wage would have to work 69,000 years to get paid £1 billion and a newly qualified nurse would have to wait 50,000 years," he will say, according to pre-released excerpts of the speech."It is also obscene that these billionaires are buying access and tax breaks to Boris Johnson's Conservative Party," he will state.
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