UK's labour party vows to bring back 45% income tax rate

Britain's main opposition party leader Keir Starmer said on Sunday he would reintroduce the top rate of income tax to 45% after the government abolished the rate in a mini-budget.

Starmer is under pressure to assert himself as the prime minister-in-waiting as he starts his campaign for power at this week's annual Labour conference in Liverpool in northwest England.

The Labour leader said the move to cut the top rate of tax was unfair because it handed someone earning £1 million a £55,000 tax cut. "I would reverse the decision they made," Labour leader Starmer told the BBC. Labour will use this week's conference to set out dividing lines on key policy issues after the government announced large tax cuts, huge increases in borrowing and the scrapping of caps on bankers' bonuses.