Jeremy Corbyn hits out at “one rule for the super rich” as he publishes his tax return

Jeremy Corbyn today derided David Cameron’s statement on his financial affairs as a “masterclass in the art of distraction”, as the Prime Minister faced questions from MPs in the wake of the Panama Papers leak.

The Labour leader also published his full tax return, revealing that he earned less than the amount Chancellor George Osborne had to pay in tax.

Cameron had published his tax return over the weekend, after questions were raised about his affairs, following the revelation he had held shares in an offshore investment firm owned by his father. He then took the unprecedented move of appearing before the House of Commons to face scrutiny over how he had handled his finances.

But Jeremy Corbyn said that his statement had been an effort to avoid talking about how to deal with the scourge of tax avoidance.

He said the official statement was “absolutely a masterclass in the art of distraction”, before welcoming the “outstanding journalism that has gone into exposing the scandal of destructive global tax avoidance revealed by the Panama Papers.”

“What they have driven home, Mr Speaker,” Corbyn said, “Is what many people have increasingly felt: there is now one rule for the super rich, and another for everyone else.”

Corbyn’s tax return for the 2014/15 year, which were published during the Commons debate today, were not particularly revelatory. On top of his salary as an MP, Corbyn earned £1,850 in taxable income: £1,350 from lectures, and £500 “survey income”.

George Osborne today also published his tax return after increasing political pressure to do so. Shadow Chancellor John McDonnell published his own in January, and proposed that Osborne do the same at the time.

The Chancellor made so much money that he paid more, £72,210, than the entire amount Corbyn earned from all sources, at £70,395. However, Corbyn was fined £100 after filing his return five days late.

You can see the whole of Jeremy Corbyn’s tax return here:

Jeremy Corbyn Tax