This Is Money Show

Labour's election manifesto has been revealed and it involves a huge £82.9billion spending spree – to be funded by a similar tax rise. It outlined a 45p income tax rate above £80,000 and to leave no one in any doubt about its intentions opted to call its new 50p level above £125,000 the Super-Rich Rate. On this podcast, Simon Lambert, Georgie Frost and Lee Boyce run through the main financial points of Labour's manifesto, with a look at all the parties' plans due at a later date after the Tory manifesto lands. They look at the other Labour moves, including for capital gains will be taxed at the same level as income – with the annual allowance axed - sending the current 10 and 20 per cent CGT rate for investors in shares and funds – and 18 and 28 per cent for property investors - up to 20, 40, 45 or even 50 per cent. Entrepreneurs would lose their special 10 per cent capital gains tax rate that rewards them for building businesses. Dividends would also be taxed the same as income, with the dividend a