Labour's plans to increase the debt and deficit need to be understood
Ever since he forget to mention the deficit in his Conference speech, Ed Miliband has been on the back foot on the issue.
But the Institute for Fiscal Studies, the respected think tank, has already analysed the Labour leader’s plans – and says they could lead to £50 billion more spending. Carl Emmerson, Deputy Director of the IFS, says:
‘The amount of wiggle room which Labour would have is as much as £50 billion’
‘Under a Labour government… you’d have much more borrowing, and therefore government debt’ (BBC Radio 4, World at One, 11 Dec 2014)
Once again, it’s clear that Labour have no plan to clear the deficit. It's worth remembering at a local level Labour will have almost doubled the County Council's debts by 2017 - to nearly a billion pounds.
Their plans for more spending, more borrowing and more debt would increase the deficit, hit hardworking taxpayers, and put the recovery at risk.