Labour leadership challenger, Owen Smith, says he plans to give 5 million workers a real living wage and reverse Conservative cuts to in-work benefits.
Speaking at the Open University in Milton Keynes, he said it would involve:
- Reforming pensions tax relief, introducing a flat rate of between 25% and 30% to boost the pension pots of all basic rate taxpayers.
- Delivering a full reversal of Tory cuts to in-work support that will otherwise see 2.5 million low-paid workers lose more than £2,000 a year.
- Raising the minimum wage to the levels of the real living wage, and extending it to all adults under 25.
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