ISF research on top 1% in London and the South East – McDonnell responds

John McDonnell MP, Labour’s Shadow Chancellor, commenting on IFS research showing the concentration of the top 1% in London and the South East, said:

“A massive proportion of the top 1% live in London and the South East, and it’s yet another sign of how Tory governments have encouraged the super-rich to concentrate in those regions while the rest of the country is held back.

“It’s shocking that so many of the top 1% are getting tax advantages, as partners and business owners, and we’re going to get more help for the very wealthiest from this Boris Johnson-led government of bankers.

“A Labour government will be for the many, not the few – and will tackle regional inequality, introduce a fairer taxation system, and clamp down on tax advantages exploited by the super-rich.”