The Guardian is reporting that the Labour leader, Jeremy Corbyn, has promised to raise taxes on businesses to fund an overhaul of the UK’s educational system, promising employers they would see a return on the investment, with a future workforce that would be more skilled.
In an uncompromising speech, Corbyn also outlined plans for a surge of council house building funded by the removal of borrowing caps on local councils, a broad programme of public investment and a reinstatement of some trade union rights.
Corbyn said he was offering “a new deal for rebuilding Britain”, including borrowing to invest billions in infrastructure, which he said would benefit businesses.
However, he said, he wanted to see business play its part in return, by paying more tax to fund a proposed “national education service” – a lifelong service from preschools to adult education.
“Investment in capital must include investment in human capital, the skilled workers needed to make our economy a success,” he said. “So this is the deal Labour will offer to business. To help pay for a national education service, we will ask you pay a little more in tax.”
He said Labour would raise corporation tax by less than 1.5% to reinstate education maintenance allowances for students, as well as funding grants to university students. “Business shares in economic success and it must contribute to it too,” he said.
Do you think a rise in corporation tax to help fund education would be taken favourably, even though it would mean a more skilled workforce? Let us know your thoughts in the comments below or on Twitter. ~ Sophie
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