Tories have ‘crashed the economy’ says Starmer amid calls for election

Starmer said the priority should be stabilising the economy, and recognising that ‘it’s working people that grow it’. Photograph: Kirsty O’Connor/PA

Severe spending cuts and tax rises are due to be imposed by Rishi Sunak and Jeremy Hunt within weeks because ministers “crashed the economy”, Keir Starmer has said as he renewed calls for a general election.

The Labour leader said people were already “paying the price” for government mistakes, after reports that a buffer in the public finances could be created by trying to claw back £50bn – significantly greater than the expected £35bn fiscal black hole.