Angela Rayner's attack on Rishi Sunak has backfired, as a Conservative MP has pointed out that Labour's own policy would "contract the economy" and reduce living standards. After the Prime Minister published his tax returns, Labour's Deputy Leader accused him of putting himself first and giving "handouts to the richest one percent". But responding to Ms Rayner's remarks, Conservative MP Marco Longhi told Express.co.uk that Labour would increase taxes, which would "contract the economy".

He claimed that every single previous Labour Government has left Britain "poorer, with no money and much higher unemployment".

Mr Sunak's tax returns - published on Wednesday - showed that he has paid more than £1 million to HMRC in the last three years.

The release showed he paid £432,493 in tax in the 2021/2022 financial year, £393,217 in 2020/2021 and £227,350 in 2019/20.

The Prime Minister made nearly £2 million through income and capital gains in 2021/22.

Sir Keir Starmer published his own tax returns a few days later, which showed he had paid £118,580 in income tax since 2020.

Ms Rayner wrote on Twitter: "Rishi Sunak's much-delayed return reveals a Tory tax system where the PM pays a far lower tax rate than working people - who face the highest tax burden in 70 years."

She added: "His latest handout to the richest one percent shows you exactly who he puts first."

But Mr Longhi responded: "We do have the highest tax burden in 70 years, but a Conservative government will bring that down.

"What everybody does know, is that Labour will increase taxes: it's what they have always done.

"We know they want to reverse the removal of the pensions cap which is now bringing back to huge numbers of people who had taken early retirement because of the tax on pensions, and their MPs are openly campaigning for higher rates of capital gains taxes as well - these are taxes on investment and will contract the economy."

The MP for Dudley North added: "Every single Labour government has left us poorer, with no money (the infamous note!) and much higher unemployment. Fact. Who wants that?"

Also defending Mr Sunak, former minister Jacob Rees-Mogg said: "Having a Prime minister who has a high income is not here or there I think that having somebody of skills and his intelligence is beneficial to the country and that he is working for this country is a good thing.

"I think to be opposed to people because they have been successful in their careers would be quite wrong."

The former California-resident separately paid 6,892 US dollars from 45,948 US dollars of dividends that were taxed separately in the US in 2021.

Rather than a full tax return, No 10 published "a summary" of Mr Sunak's UK taxable income, capital gains and tax paid as reported to HMRC, prepared by accountancy service Evelyn Partners.

Mr Sunak's family finances previously faced scrutiny while he was chancellor when the non-dom status of his wife Akshata Murty emerged.

The backlash led to Ms Murty, the fashion-designer daughter of a billionaire, declaring that she would pay UK taxes on all her worldwide income to avoid being a "distraction" for her husband.

2023-03-25T07:11:58Z dg43tfdfdgfd