Wednesday 4 March 2020 / 11:22 AM Budget / John McDonnell

Next week’s Budget will be underwhelming and disappointing – John McDonnell

John McDonnell MP, Labour’s Shadow Chancellor, responding to news of Rishi Sunak’s plan for an increase in stamp duty on overseas buyers of UK property, said:

“This is simply a re-announcement of a watered-down version of Labour policy.

“The £120 million promised by this surcharge is a paltry one-tenth of what’s needed to reverse the Tories’ devastating cuts to homelessness services that have left over 700 homeless people dying a year and thousands more rough sleepers on our streets.

“This half-measure is yet another sign that next week’s Budget will be underwhelming and disappointing, at a time when we need significant action to tackle the crises facing the country.”