Minister Andrew Griffith has warned voters will need to start saving if Labour wins power.
The Minister of State for Science, Research and Innovation, was reacting to an exclusive GB News poll predicting that Labour are likely to win a sweeping 493 seats.
He told GBNews: “Let's take it on its own terms. I mean, what would this mean? This would mean Keir, Starmer having a catastrophically large majority and a free ability to implement whatever policies Labour wish.
“The ones that haven't yet been flushed out, but day by day we discover that they're refusing to rule out a pension tax rate that we saw of Gordon Brown. Yesterday they selected a Labour candidate, somebody who's an expert in tax who talked about and published a report in December.
“Torsten Bell, has talked about scrapping inheritance tax nil rate band, so everybody's estate would be brought into inheritance tax.
“And we’d also see a slashing of the VAT registration threshold to small businesses from about 80,000 now to 30,000. So every tiny little small business would have to register for VA. Now, I'm not saying those are Labour policies. That's just one candidate they selected.
"But that's someone who could have a really significant impact on Labour's tax. And if you think Labour is going to win you better start saving now because it's going to cost you and your family.”
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