"Reeves said the exchange scheme would allow young people in Britain to be able to go and work, to travel, to volunteer, to gain experience, to learn languages in European countries. And we want young people from those European countries to also be able to come to the UK and have the same opportunities that my generation had to travel, work and study in Europe, she said."
"Despite the bleak financial outlook in the runup to the budget, the chancellor ruled out the option of a wealth tax. If you look around the world, and countries that do have wealth taxes, they tend not to have other taxes, like inheritance tax and capital gains tax, she said. Those taxes bring in a large amount to the UK Exchequer, and I don't want to risk the revenues from those with an experiment on something different."
Labour will pursue a youth mobility scheme with the EU to allow thousands of young Europeans to temporarily live and work in the UK. The scheme would enable 18- to 30-year-olds to work, travel, volunteer, gain experience and learn languages, with reciprocal access for young people from EU countries. The chancellor said the policy would support the economy, growth and business, and asked the OBR to score both improved trade ties and the youth scheme in forecasts. The chancellor ruled out a wealth tax, arguing inheritance and capital gains taxes bring significant revenues. The plan appears ahead of the party conference and a tight November budget.
Read at www.theguardian.com
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