Mr McDonnell added: “My colleague Seema Malhotra is currently looking at the current system of so-called “tax expenditures” – the different get-outs and reliefs provided by the tax system.
“A thicket of different schemes has grown up, costing the taxpayer £110bn a year. Some of this will be justified. But some of it will not be. We’ll look at whether we need to simplify the system so it is fairer to everyone and encourages the growth a fair and prosperous economy.”
That’s not a £110 billion cost to the taxpayer of course. Rather, it’s a £110 billion not a cost to the taxpayer.