Labour: Raise 'income tax' for rich

Labour plans to challenge the government on its stance on austerity with an amendment to the Queen's Speech. The amendment will call for a relaxation of the public sector pay freeze and more money for the police.

So how will they cover the cost of easing up on austerity?

Shadow Chief Secretary to the Treasury Peter Dowd told the Today programme Labour will cover these costs by "raising corporation tax" and "income tax for the top 5%".