Foreign secretary Boris Johnson accuses Labour of planning "tax triple whammy" on British homeowners

Mark Sands
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The UK will head to the polls on 8 June. (Source: Getty)

Foreign secretary Boris Johnson has accused Labour leader Jeremy Corbyn of planning a “tax triple whammy” on homeowners.

With just days to go before Britain goes to the polls, Johnson has claimed that Labour's plans will add more than £5,000 a year to bills across the country.

In an interview with the Sunday Times, the former London mayor said Corbyn's plans to increase government borrowing would push up interest rates, and see the cost of the average mortgage in England and Wales to rise up £1,386 per year.

In addition, Johnson noted Labour is planning to reverse planned cuts to inheritance tax, and is planning a review on council tax that could lead to the system being based on land values.

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The Tories have branded the plan a “garden tax”, and claim it would add an extra £3,786 to the average family tax bill.

“This is a tax triple whammy, a ruthless attack on people's property and possessions over their lifetimes. It will wallop homeowners,” Johnson said.

It comes as Labour shadow chancellor John McDonnell has told The Observer that Labour, which is committed to hiking taxes only on the UK's highest earners, wants to see the 20 per cent VAT rate cut.

“I think VAT is a real problem for many people. When we come out of Europe there is more flexibility on VAT, particularly in terms of the lower levels,” McDonnell said.

The Conservatives have already ruled out hiking VAT during the next parliament.

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However, the Tories were also forced to clarify their position on income tax rises this weekend. Defence secretary Michael Fallon told the Telegraph that voting Conservative was “the only way” people could be sure income tax would not rise.

Asked if high earners could vote Conservative safe in the knowledge their income tax bill would not rise, Fallon said: “Yes. You've seen our record. We're not in the business of punishing people for getting on, on the contrary we want people to keep more of their earnings.”

Fallon's comments seem to go significantly beyond previous guarantees, with the Conservative manifesto only committed to keeping tax “as low as possible”.

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