Politics

Now the Tories have published their manifesto in full we can see how a party that has added £700 billion to the national debt since 2010 really approaches the public finances.

Today they have produced an 84 page document in which they made 60 spending commitments but provide costings for only one, just a day after Philip Hammond revealed he had no idea how much High Speed 2 will cost.

This contrasts with Labour’s fully-costed manifesto, published on Tuesday that identified funding covering all spending commitments.

Commenting, John McDonnell, the Shadow Chancellor, said:

“The Tories’ numbers don’t add up. They have published an 84 page blank cheque that provides a tax giveaway guarantee for big business, while offering a roll of the dice for working families with no commitments to rule out rises in income tax and National Insurance.

“Now we can see why Theresa May is running scared of debating Jeremy Corbyn, when she publishes a document like this that contains more questions than answers. It also further shows how her party has managed to add £700 billion to the national debt since 2010, as they won’t be straight with the British people on how much their plans for a wealthy few truly cost.

“One of the few revenue raisers they identified was withdrawing free school meals from children and withdrawing support for pensioners struggling to heat their homes – this just sums up the Tory approach.

“This is the equivalent of the Prime Minister going to the shops with the nation’s cheque book and not checking the price of the goods as she puts them in the trolley.

“All we know if the Tories are returned next month is that if you’re a pensioner you face the penalty of losing your winter fuel payments, control of your home, and the value of your pension.

“Today has revealed that only the Labour Party at this election will stand up for pensioners, and the 95 percent of taxpayers to build an economy for the many not the few.”

Jeremy Corbyn, Leader of the Labour Party, responding to the launch of the Conservative manifesto, said:

“Millions of pensioners are betrayed by Theresa May’s manifesto. She is hitting older people with a classic Nasty Party triple whammy:  Scrapping the triple lock on pensions, removing the Winter Fuel Allowance and forcing those who need social care to pay for it with their homes.

“The Conservatives’ record is one of broken promises and failure. They promised to raise living standards, but working families are set to be on average over £1,400 a year worse off. They promised to improve all standards of NHS care, but A&Es are in crisis. They promised to protect school spending, but schools are facing crippling cuts and class sizes are soaring. You can’t trust a word Theresa May says.

“Despite Theresa May’s warm words, she leads a party that has created a rigged economy that only works for the super-rich. The Conservatives have not changed. While the Labour Party has promised to protect low and middle earners from any tax rises, all Theresa May has promised is a cut to Corporation Tax for their big business friends. Unlike the Conservatives, Labour is standing up for the many, not the few.”