LETTER: Plan would do serious damage to ‘money tree’

Jeremy Corbyn has been very successful in mobilising young people’s votes.

It would be unkind to suggest that this was due to a large extent to the promise of a £27,000 subsidy for all university students plus the restitution of housing allowances for the under-25s.

These and other subsidies are to be financed from Mr Corbyn’s Money Tree, which has recently been discovered.

One of the major goodies on this tree is a substantial increase in Corporation Tax.

I wonder if Mr Corbyn realises that it is precisely because of the current low rate of Corporation Tax that companies choose to set up in the UK rather than in other countries.

If the rate of Corporation Tax is substantially increased many of these companies will leave the UK, or choose to set up in other countries, particularly after Brexit.

There would be a consequent loss of jobs, national income and taxation, causing serious damage to the Money Tree.

Food for thought.

Sheila Campbell