May 10 (Reuters) - Britain’s opposition Labour Party will pledge to nationalise energy, rail and mail, The Daily Telegraph reported on Wednesday, citing a leaked copy of Labour’s draft election manifesto.
Britain’s Prime Minister Theresa May has called for an early national election scheduled for June 8.
Labour will fund its spending commitments though a programme of increased tax and 250 billion pounds of borrowing over the next decade, the Telegraph reported. (bit.ly/2pAtiXx)
The draft manifesto, which will be debated and finalised by party officials on Thursday, intends to hike income tax for people earning more than 80,000 pounds a year, according to the report.
The 43-page document also says Labour will ensure that 60 percent of the UK’s energy comes from renewable sources by 2030, the newspaper added.
Labour’s manifesto was expected to be made public next week.
The party had said that middle and low earners would not face tax hikes to fund its spending plans if it wins next month’s election, with the burden falling instead on the top five percent of earners and big business.
Reuters could not confirm or deny the details in the report. (Reporting by Subrat Patnaik in Bengaluru; Editing by James Dalgleish)