Labour victory would wipe £367bn from UK shares and hit millions of pension savers

A Labour Government would wipe £367bn off the value of Britain’s listed companies and send the pound plunging, economists warned ahead of Thursday’s General Election as polls showed the race is too close to call.

The party’s plan to hike business taxes to one of the highest rates in the western world would knock the market capitalisation of the FTSE 350 by £130bn, according to Goldman Sachs.

Meanwhile Jeremy Corbyn’s intention of seizing 10pc of shares from FTSE 350 companies for a so-called ‘inclusive ownership fund’ would snatch another £237bn from shareholders.

The hit from just two of Labour’s flagship policies would hammer  millions of pension savers’ nest eggs. 

Analysis by a specialist…