New analysis by the Labour Party, using official data, shows cuts in Corporation Tax under the Tories could have paid for much needed teachers, police officers and nurses. 

The cost of Corporation Tax cuts worth almost £15 billion by 2021 is equivalent to the cost of employing 10,000 teachers, 10,000 police officers and 12,000 nurses, full-time, every year, for a decade.

Commenting, John McDonnell MP, Labour’s Shadow Chancellor, said:

“Today’s figures highlight the impact of the Tories’ cuts to Corporation Tax.

“We have known for a long time that the Tories’ cuts to Corporation Tax have cost the Exchequer billions, and today we have laid bare what this means for our public services. 

“Labour is calling on the Government to reverse these deeply unfair tax giveaways and start properly investing in our vital public services.”