Labour won’t commit to cut basic income tax rate to 19p

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Desk Report: Shadow business secretary Jonathan Reynolds tells Laura Kuenssberg that Labour cannot commit to cutting the basic rate of income tax from 20p to 19p – something pledged by Prime Minister Liz Truss – despite earlier support for the move from leader Sir Keir Starmer.

He said Starmer’s support came before “the Conservative Party set fire to the British economy.”

Reynolds said any Labour plans would only be made after a report from the financial watchdog the Office of Budget Responsibility (OBR).

He added: “We’ve got to base it on real information, not speculation.”

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