Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ World https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ General Election 2019: The order is broken down into labor cost plans

General Election 2019: The order is broken down into labor cost plans

  Sajid David and John McDonnell Copyright
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Shadow Chancellor John McDonnell criticizes a report published by Torrey

The spending part disappeared after the Conservative Party published what it claimed would be the Labor government's price in five years.

The report drawn up by the party, not the Ministry of Finance, is based on a number of commitments from the annual Labor Party conference, but not its manifesto.

Chancellor Sajid David stated that Labor's proposals would leave the UK "on the verge of bankruptcy".

But Shadow Chancellor John McDonnell condemned the report as "fake news." [1

9659007] Conservatives argue that Labor policies would cost £ 1.2 tonnes over the next five years if the party wins the general election next month.

The figure is based on the cost of the 2017 Labor Manifesto and other promises it made afterwards.

But the Labor Party has not yet published its 2019 election manifesto detailing its policies and spending proposals.

The figures of senior labor will meet next weekend to decide which policies adopted by the party's annual conference will become manifest proposals for government, with some unlikely to make the cut.

How accurate are the statements?

There are problems with the Conservative Party approach.

Because Labor has not yet published its election manifesto, previous promises may be dropped, while new promises may still be added.

This does the job of exacting the cost of elections at this stage at this stage. of the campaign, impossible.

Just because certain political positions were adopted at the Labor Conference, there is no guarantee that they will be adopted in the forthcoming manifesto.

There is also a problem with some of the costs. Conservatives, for example, have estimated plans to renationalise Labor at £ 196 billion. This is based on the assessment of the Confederation of British Industry, which itself has been criticized.

But it is certainly true that Labor wants to spend a lot more – something that is headed forward.

Shadow Chancellor John McDonnell says he wants to double the cost of investing in the UK to an additional £ 55 billion a year.

However, the Institute for Fiscal Studies questioned where such an immediate increase in investment costs could be achieved.

  • Read more from Reality Check for Labor's economic plans here.

Mr McDonnell labeled the Conservatives' report a "ludicrous piece of Tory fake news" and "incompetent mishmash of debunked scores and bad math prepared because they know that Labor's plans for real change are popular."

He added: "Conservatives will be able to read all about these plans – and how much they actually cost – when we publish our full-scale manifesto. "

the publication of the Conservative document came after Civil Service Chief Sir Mark Sedville blocked a Tory plan to use Labor officials to keep the Labor Party fiscal plans in a separate report.

Sir Mark's decision came after Mr McDonnell complained aloud to Permanent Secretary of the Treasury Tom Science

Political Document

This document is political, not financial. The purpose of the Conservatives is to draft Labor's plans not as ambitious but as inaccessible.

But the dossier suggests that all Labor policies are firm commitments and does not address Labor's revenue-raising measures.

John McDonnell made no secret that Labor intends to borrow more than Tories to invest – the political his argument is that it would grow the economy faster and increase the assets of the state – not just its liabilities.

So, in the end, it is likely that voters' calculations are about who they trust more to govern the economy.

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Media caption John McDonnell: A $ 150 billion fund for "Tory-created emergencies"

Speaking of Labor's plans in Liverpool on Thursday, Mr McDonagh pledged "an investment on a scale never seen before" to overhaul infrastructure in all areas of the UK.

The shadow chancellor said he wanted to transfer power and money from the south-east of England – and will finance its plans through a loan.

Kaz that his party would introduce new fiscal rules, meaning that the "investment loan" would not be included in the borrowing targets.

Labor's economic plan includes a doubling of "investment" costs, £ 150bn social transformation ”and the £ 250 billion Green Transformation Fund.

The Tories are also committed to borrowing to finance more spending by rewriting their current financial rules.

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