The Labour Party has criticised the Conservative manifesto, describing it as a desperate wish list of £71bn worth of unfunded promises that could lead to five more years of chaos and an additional £4,800 on family mortgages.
The Labour Party claims that the last time the Conservatives mishandled the country’s finances, they crashed the economy, and the British people are still paying the price. They argue that Rishi Sunak, initially seen as a remedy to the chaos of Liz Truss, is repeating the same mistakes with likely similar results.
Labour highlights five significant mistakes in the Conservatives’ costings:
- The Conservatives claim £12bn in savings from the benefits bill, but most proposed changes are already included in public finances, and experts dispute the savings’ feasibility.
- They claim a £6bn cut in tax avoidance can fund their pledges but omit the £1bn investment needed to achieve these savings.
- The cost of Rishi Sunak’s National Service plan is underestimated, not fully accounting for the costs of accommodation, training, and equipment for 30,000 new recruits annually.
- They plan to save £1bn by scrapping poor-performing university courses without setting plans to cap student places, making the saving unrealistic.
- The proposal to save money from government agencies lacks detail, creating another £1bn gap in their plans.
Labour warns that the Conservatives’ £71bn worth of unfunded promises would increase government borrowing, leading to higher interest rates and rising mortgage costs, adding an extra £4,800 to family mortgages.
