Here are five new policies to help family finances that we announced in our manifesto pledge:
Raising the minimum wage faster
We will give the Low Pay Commission the clear task of raising the minimum wage to more than £8 by October 2019 – accelerating increases and guaranteeing the minimum wage increases by at least twice as much as it has under the Tories. It will mean someone working full time on the National Minimum Wage will be £800 a year better off with Labour.
Freezing rail fares for one year
Labour will deliver a fully funded rail fares freeze for one year and a strict cap on every route for any future fare rises. Passengers will also have a new legal right to access the cheapest fares for a journey.
We won’t raise tax for working people, we’ll cut it
We will not raise the basic or higher rate of Income Tax, National Insurance or VAT. Nor will we extend VAT to food, children’s clothes, books, newspapers or public transport fares. Instead, we will cut taxes for working families by bringing in a lower starting 10p rate of income tax by reversing the Tories’ Marriage Tax Allowance.
We’ll protect tax credits for working families
Labour will protect tax credits that working families rely upon so they rise in line with inflation from next year, not cut them as the Tories plan.
A new National Primary Childcare Service
To help families with childcare we’ll establish a new National Primary Childcare Service, underpinning a legal right to guaranteed access to wrap-around childcare in breakfast or after-school clubs from 8am-6pm. That’s on top of our existing pledge to increase free childcare for three and four-year-olds to 25 hours a week.