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fundamentally change the game in the uk. ., ~ fundamentally change the game in the uk. . ~ , ., fundamentally change the game in the uk. ., ~ , ., , fundamentally change the game in the uk. . y . ., fundamentally change the game in the uk. thank you very much. that is chief operating uk. thank you very much. that is chief operating officer uk. thank you very much. that is chief operating officer of - uk. thank you very much. that is chief operating officer of one - uk. thank you very much. that is chief operating officer of one of l chief operating officer of one of europe s largest haulage firms based in lithuania. the labour party says it will cut business rates in england to help high street retailers and then paste them out completely if it winds the next general election. at the conference in brighton, shadow chancellor rachel has been outlining the parties economic plans and our political correspondent sent us this report. getting down to business in brighton. after days of w
on their labor would be in charge of the economy to take careful decisions about who pays and what extent. , ., ,, ., extent. first, we will make the tax s stem extent. first, we will make the tax system fairer extent. first, we will make the tax system fairer and extent. first, we will make the tax system fairer and sharing - extent. first, we will make the tax system fairer and sharing the - extent. first, we will make the tax l system fairer and sharing the burden is notjust system fairer and sharing the burden is not just follow system fairer and sharing the burden is notjust follow on the wages of working people but that those at the top pay their fair share as well. she said the business tax system was not fair or fit for purpose and that under labor, there would be changes meaning bigger companies paid more. we will oversee the biggest overhaul of business taxation in a generation. sol of business taxation in a generation. so i can announce today that the next labour governm
cuts for working families and very large tax cuts for businesses to make them competitive. we have a broken business tax system. we had one of the highest rates in the world. we re coming down to a 21%, very competitive, and more importantly, we re going from a worldwide broken system to a u.s. jobcentric system that s going to bring trillions of dollars of cash back here to be invested here. one of the biggest changes from the house and senate proposals is that the final plan lowers the top tax rate of individuals from 39.6% to 37% and it raises the threshold at which the top rate kicks in to $600,000 for married couples. it also raises the threshold for estate tax to $11.2 million. take a listen to what trump said in september. the rich will not be gaining at all with this plan. we re looking for the middle class and we re looking for jobs. obviously the middle class is getting a tax cut. you outlined it that way, but to
that he doesn t automatically buy into this argument that growth is going to be as big as republicans have said, and that s what this hinges on here. they say hey, if we give corporate tax breaks, that s going to translate into more countries repatriating their profits and more jobs coming here in america, but if that doesn t happen, and if those wages don t trickle down to middle class workers and don t trickle down to more jobs, that s when people are going to feel it. let s talk about the importance of the pass-through tax break, which steve mnuchin talked about earlier today. let s listen and then talk about that. pass-through are the engine of growth in this country, and this is about creating the lowest tax rate for pass-through since the 1930s. that s going to be massive, massive economic growth, and it s about fixing a broken business tax system. we ve had one of the highest corporate rates in the world with companies leaving trillions of dollars offshore so that they don t