Labour's McDonnell targets tax cuts in call for 'emergency budget'

Efficiency savings to rise to £3.7bn by 2021/22

Victoria McKeever
clock • 1 min read

Labour shadow chancellor John McDonnell said he would curb corporation, capital gains and IHT tax cuts to raise an additional £17bn for public services.

In an interview with the BBC's Today Programme, McDonnell outlined what he will say in a speech today at Church House in Westminster, in which he will call for an "emergency budget" for public services which he has said are "in crisis". This comes just under a week before Chancellor Philip Hammond will deliver the Autumn Budget, on Wednesday 22 November.   McDonnell said he wanted to increase the annual spend on public services by £17bn, aiming to put more money into health, education and local government. McDonnell also said he wanted to lift the cap on public sector pay. "The gov...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Government consults on 'mansion tax' proposals

Government consults on 'mansion tax' proposals

Deferral scheme and exemptions outlined

Sophia Panayi
clock 19 May 2026 • 3 min read
Costly procrastination: Why inheritance tax is becoming a wider UK problem

Costly procrastination: Why inheritance tax is becoming a wider UK problem

'There is a clear disconnect between awareness and follow‑through'

Hugi Clarke
clock 14 May 2026 • 4 min read
Most millionaires would pay higher taxes to support young people – research

Most millionaires would pay higher taxes to support young people – research

79% willing to pay higher taxes

Sophia Panayi
clock 13 May 2026 • 3 min read