Labour plans to raise about 8.5bn from energy companies, private schools, private equity, wealthy foreigners, and tax avoiders while maintaining current income tax, national insurance, and VAT rates.
Labour's limited spending pledges total about 9.5bn, with half allocated to greening the economy, but are considered modest given the size of the economy by the Institute for Fiscal Studies.
Labour's commitment to reduce debt limits borrowing for public spending, while reluctance to raise taxes beyond the 8.5bn target constrains its financial flexibility, affecting spending ambitions.
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