After weeks of controversy over Labour and Conservative costings – in which each side accused the other of dishonesty – the manifestos show that both parties had wildly exaggerated their rival’s plans.
But there has been far less focus on their plans to fund the promises, which both parties claim are “fully costed”. This may be because, to a greater or lesser extent, they are both banking on income streams that may not materialise.
There are three main tropes that UK political parties have used in past elections to square this circle without much political cost. They are a crackdown on tax evasion, efficiency savings in public services, and sharp cuts in welfare spending.
