Labour shadow Treasury ‘needs to answer’ personal tax questions

Labour shadow Treasury ‘needs to answer’ personal tax questions

Jun 26, 2024

The second in line to the Treasury if Labour are to get into No.10 on 4 July has been questioned around his second income being paid into his personal company

Darren Jones, the shadow chief secretary to the Treasury, although claiming to have paid all the taxes owed through his company account, has not specified if it is the higher rate of 40% or at corporation tax levels of 19% at the time.

As Labour has attributed its extra spending to cracking down on tax avoidance and being able to raise £5bn a year, the Conservative Party is calling on Jones to come clean about his tax affairs. However, this method of reducing one’s tax is legal but similar to the smears towards Angela Rayner through the election campaigns, it would not be a good look for someone in charge of public spending.

Dame Harriett Baldwin, chairman of the Treasury select committee, said: ‘While genuinely self-employed people use this legitimately, the shadow chief secretary to the Treasury, a full-time politician, needs to answer whether he used it to pay less tax at the same time as his party is demanding higher taxes for everyone else.

‘It is particularly problematic given that he seeks to be in charge of public spending.’

Jones was paid £10,470 into his company account for legal work, and a further £52,000 in donations between 2018-19 which he stated was for the Labour Party.