BORIS Johnson’s sensible manifesto plans will see just 1 in extra spending by the end of 2024, compared to 28 for Jeremy Corbyn’s reckless spree.
The PM wants to spend around 3 billion on extra day-t0-day spending compared to Jeremy Corbyn’s 83billion, the small print revealed in today’s Conservative party manifesto.
That works out to 28 to every 1 the Tories will spend day-to-day.
And it does include a promise revealed earlier by John McDonnell – to compensate Waspi women for their pensions losses – estimated to be an extra 12billion a year.
The news will be a sign of relief for Brits who want the PM to spend more investing in the NHS and tax cuts for the lowest earners, but who also want to be able to trust the Tories to run the country’s finances soundly.
Labour has promised to splurge billions of pounds extra in the manifesto, taking the size of the state ballooning.
Boris Johnson has claimed their mega bucks spending plans will cost every Brit 2,500 extra in tax.
Meanwhile, Labour’s capital spending plans over the last Parliament are astronomical too.
Jeremy Corbyn wants to splash out around 270billion for investment, compared to the Tories who want to spend 100billion.
Other new promises Boris is revealing, including a fully-costed plan to pay for them, include:
- A tax triple lock to freeze rates of income tax, National Insurance and VAT for the next five years. This builds on the PMs announcement to raise the National Insurance threshold, saving 31million people 100 next year.
- Cutting fuel bills by spending 6.3billion on insulation and energy efficient measures for 2.2million families in social housing.
- Keeping the energy price cap to protect struggling families from sudden rises in heating bills.
- Protecting OAP perks by guaranteeing the pensions triple lock, winter fuel payments and bus passes.
- Bringing back NHS bursaries for nurses
- Follow the action with our live blog here
Torsten Bell, Chief Executive of the Resolution Foundation, said today the Tory manifesto was modest compared to Labour’s.
He said: “Brexit is happening, but big tax cuts arent. That is the short version of an already very short Conservative manifesto.
“Austerity will end whoever wins this election, given previously announced increases to public service spending and Conservative manifesto plans for up to 20 billion of infrastructure spend. “However, the country still faces a very big choice on the size of the state it wants in this election.”
He went on: Conservative plans for a 3 billion increase in current spending contrast with Labours proposed 83 billion increase which has increased to 95 billion following todays WASPI pledge.
“Labour are proposing a German-sized state of around 45 per cent of GDP, while the Conservatives are aiming to go Dutch at around 41 per cent.
“This would still amount to the biggest increase in the size of the state under a Conservative Prime Minister since Harold Macmillan.”