Jeremy Corbyn pledges to fund schools by ending Tory plan for corporation tax

Jeremy Corbyn pledges to fund schools by ending Tory plan for corporation tax

The Labour leader has made a large pledge for education

Wednesday, May 10, 2017

Jeremy Corbyn has vowed he will funnel £20bn into UK schools if he wins the election. 

The Labour leader has pledged to provide a financial windfall to education services and institutions by reversing Tory plans to cut corporation tax. 

The plans, which are being implemented by the Tories, will see corporation tax cut to 17% by 2020 - a fall of over 10% in a decade.

Corbyn says that, even if the cuts were reversed, the rate of corporation tax in the UK would remain lower than several other EU countries. 

The Labour leader officially began the party's election campaign on Monday with a formal launch event, followed by a speech in Manchester yesterday introduced by Coronation Street actress Julie Hesmondhalgh.

Corbyn has said he will not step down, even if Labour suffers a major defeat next month.