Bolton West & Atherton MP Chris Green has added his name alongside 147 Conservative MPs challenging the Shadow Chancellor over Labour’s election pledges amid claims they would add £250 billion to national debt.
Analysis by the Institute for Fiscal Studies of Labour’s manifesto suggests the national debt would be £106 billion higher than under the Tories. But in the letter, the MPs warn that Jeremy Corbyn has since made fresh commitments costing £12.9 billion since the election, and says Labour’s nationalisation plans would cost £134 billion ‘at the very least’.
It comes after Labour’s u-turn on their student loans election pledge, after John McDonnell confirmed that plans to ‘deal with’ debts were merely an ‘ambition’.
The Chancellor of the Exchequer, Philip Hammond, said:
“My parliamentary colleagues are quite right to call John McDonnell out. After duping voters over student debt, Labour is trying to get away with hiding the true cost to public services of their irresponsible borrowing.
“Conservative MPs represent the only party with a responsible plan to bring down debt, so we can invest in the local public services that support our communities and serve families across the country.”