The Labour leader also announced on Thursday he would give up the tax-exempt status he enjoys on contributions to his pension from his time as director of public prosecutions.

But he said on Thursday he would forgo his tax exemption if he is elected prime minister at the next election, saying: “I’m very happy to be – and will be – in the same position as everybody else in this country.”

Meanwhile, the Guardian revealed that Sunak had benefited from more than £300,000 in tax savings over the past three years as a result of a capital gains tax (CGT) cut his party brought in in 2016, for which he both voted and spoke in favour.

The Conservative government cut the top rate of CGT from 28% to 20% that year, a move Sunak welcomed, saying it would help boost investment in British business.

The tax records released on Wednesday show he benefited heavily from that, given how much of his earnings came from capital gains on a US-based investment fund. The fund gave him a taxable gain of £1.6m in 2021/22, the records show.

A No 10 source said: “The tax return shows that a considerable amount of capital gains tax is being paid.”