Ed Balls made over £20 billion of spending promises in his speech at the Labour Party’s conference yesterday – while outlining cuts that are just a fraction of that.
Yesterday’s speech proves that Labour have just not learnt their lesson. They have no serious plan for the economy – Labour would put the deficit up, not down.
The savings outlined on ministerial pay only cut a miniscule fraction of the deficit – less than 1 per cent of 1 per cent.
Labour’s cap on child benefit would only last one year and only save £120 million – this is despite initial claims that it would last for two years and save £400 million.
This comes just days after the IFS said Labour’s economic policy means £28 billion extra borrowing and the Centre for Policy Studies reported that Labour’s tax rises will put 375,000 jobs at risk – a serious threat to Britain’s future and hardworking taxpayers’ financial security.
For all his bluster, Ed Balls still refuses to admit that Labour spent too much and he’s opposed every decision we’ve taken to cut the deficit.
All a Labour government would offer is more inefficient spending, more taxes and more debt than our children could ever hope to repay.
