Britain's opposition Labour Party will on Tuesday take aim at 'obscene...
LONDON - Britain’s opposition Labour Party will on Tuesday take aim at “obscene” billionaires, pledging a radical redistribution of wealth to cut the power of the super rich who it says bankroll Prime Minister Boris Johnson in return for tax breaks.
Labour said almost a third of Britain’s 151 billionaires have donated more than 50 million pounds to the Conservatives since 2005 in return for tax breaks for the wealthy and corporations worth 100 billion pounds. Labour’s core message — a pledge to redistribute wealth to the many and not the few — was a theme it used in the 2017 election, when the party confounded the polls to deprive then Prime Minister Theresa May of her parliamentary majority.
Last month, Labour named prominent billionaires such as landowner Hugh Grosvenor, Sports Direct owner Mike Ashley, Ineos CEO Jim Ratcliffe, hedge fund manager Crispin Odey and U.S. media tycoon Rupert Murdoch as representatives of Britain’s “rigged system”.
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