Labour: Maxing out the nation’s credit card
New research shows that in just four weeks Labour have made £12 billion of unfunded spending commitments.
On 16 February, Ed Miliband and Ed Balls told all Labour frontbenchers they could not make unfunded spending commitments.
But Conservative research shows that Labour Shadow Cabinet members and frontbench spokesman have made £12 billion of spending commitments in the last four weeks alone.
The findings show that far from establishing spending discipline, Labour have made commitments worth £3 billion a week; £430 million a day; £18 million an hour; or £300,000 a minute.
And despite saying they would not oppose every cut, the new analysis shows that in the last four weeks Labour have opposed over £50 billion of savings proposed by the Coalition to clear Labour’s deficit.
Economic Secretary to the Treasury Justine Greening said:
“Labour have not learned from their mistakes. They have no control over their spending promises and would max out the nation’s credit card all over again.”
And she added, “They can never be trusted with the public finances again.”
