The Tories have “maxed out the national credit card” with a “desperate” Budget, Sir Keir Starmer warned on Wednesday.
Responding to the Chancellor’s announcement of limited personal tax cuts, the Labour leader said the Conservative government were “giving with one hand” and taking “even more with the other”.
He accused the Tories of torching the party’s reputation for fiscal responsibility and leaving working people worse off.
Sir Keir said: “There we have it. The last desperate act of a party that has failed. Britain in recession.
“The national credit card — maxed out. And the highest tax burden for 70 years. That is their record: give with one hand, take even more with the other. And nothing they do between now and the election will change that.
“If only it weren’t so serious. Because the story of this Parliament is devastatingly simple. A Conservative Party that is stubbornly clinging to the failed ideas of the past. Unable to generate the growth working people need.”
A 2p cut to National Insurance was widely briefed to journalists before Wednesday’s Budget, matching the chop in last year’s Autumn Statement.
However there are concerns that nothing will be enough to boost Rishi Sunak’s dire poll ratings, as his party languishes 27 percentage points behind Labour in the latest opinion polls.
Earlier this week, an Ipsos survey suggested just 20 per cent of the public would vote for the Tories at the next election, down seven points since January.
The Chancellor said his fiscal plan would deliver “more opportunity and more prosperity” for the country. But Sir Keir argued that people are “paying the price” of the Tories “losing control of the economy”.
Food prices remain 25 per cent higher than two years ago and an extra £240 pounds a month has been added to a typical family mortgage, he said.
“The Government lost control of the economy, sent interests through the roof and made working people pay,” Sir Keir added.
“That record is how the British people will judge today. Because the whole country can see exactly what is happening. They recognise a Tory con when they see it, just as they did at the Autumn Statement.
“But it won’t work. Britain can see exactly who they are — fighting for themselves; politics not governing; party first, country second. Britain deserves better than this. We need a real plan for growth. An end to the 14-year stagnation. Wealth creation across our country. Higher living standards for working people — that is the mission we need.
“But instead all we got was the same, tired, old formula — sticking plaster politics. No plan to get Britain building again with a reformed planning system. No ambition to invest in clean British power for cheaper bills and energy security.”
