Britain’s opposition Labour Party will offer voters in Thursday’s election the prospect of a cut in value-added tax, the party’s top finance official John McDonnell was quoted as saying by a newspaper. The interview was conducted before Saturday’s van and knife attack in London which has prompted political parties to suspend campaigning ahead of the June 8 vote. McDonnell, who would be finance minister if Labour pulls off one of the biggest electoral surprises in British history, told The Observer newspaper that VAT cuts could be introduced once he has raised income taxes for higher earners.
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