Numerous candidates for the Conservative leadership have committed to reducing taxes if elected, but Mr. Starmer is expected to assert that billions of pounds worth of these pledges are unfunded.
Sir Keir Starmer will attack Conservative leadership candidates later today, claiming that over £200 billion of commitments made in an “arms race of fantasy economics” are unfunded.
While delivering a speech in the North East, the Labour leader is also anticipated to criticize Tory MPs who served in Boris Johnson’s government for their “hypocrisy” in supporting tax increases while having “always opposed” them.
This comes after Jeremy Hunt and Sajid Javid entered the race for the next prime minister by announcing they would abandon proposals to hike the company tax from 19 to 25 percent and instead reduce it to 15 percent.
In addition, Mr. Javid promised to eliminate the unpopular national insurance hike, push forward the scheduled 1p income tax cut to next year, and implement a temporary reduction in fuel duty.
Foreign Secretary Liz Truss, Chancellor Nadhim Zahawi, Transport Secretary Grant Shapps, Attorney General Suella Braverman, and Kei Badenoch have all pledged to enact tax cuts thus far in the campaign.
However, Sir Keir appears to have discovered a flaw in their plans, saying that none of the candidates have specified how they will be compensated.
During his Monday speech, he is scheduled to say: “I cannot believe what the candidates for the next Tory leader are saying.
“The great majority of them served in the cabinet of Boris Johnson. The hypocrisy is repulsive.”
He will then accuse the candidates for the Conservative Party of employing “fantasy economics.”
“The candidates have pledged almost £200 billion in unfunded spending over the weekend. That should sink in “Sir Keir is anticipated to speak.
“More than the yearly budget of the NHS was lavished on the pages of the Sunday papers, with no mention of how it will be paid for.”
In addition, he will claim that Labour will “explain every single pound” of its electoral promises.
He will add, “When I say we will pay for children to catch up in school, I will also say that this will be paid by revoking private schools’ nonprofit status.”
Or, when I say we must improve mental health treatment in this country, I also mention that we will do it by removing tax loopholes utilized by hedge funds.
“We will explain every pound because the next election will be fought on the issue of growth. And the first line of our offer’s first page will be about wealth development.”
Sir Keir will use the address to discuss a Labour administration, as well as a “new start” for the UK economy and three concepts that would define his administration.
“Only Labour can revitalize our economy and end the cost-of-living crisis. Only Labour can reinvigorate our public services and re-energize our communities. Only Labour can unify the nation and purify politics “He will assert.
“These three responsibilities will define my administration because, until we solve them, we leave ourselves vulnerable to the type of shocks and catastrophes we have all faced over the previous decade.”
