THREAD: the lies the Tories tell on economic policy—and the facts

CLAIM: Labour’s plans would mean every worker pays £2,400 in tax.
FACTS: 95 per cent of workers will pay no more tax

CLAIM: corporation tax would be “the highest in the world”
FACTS: Labour will return CT to its 2012 level & many other advanced countries have higher rates

CLAIM: Labour plans to spend £1.2 trillion
FACTS: Labour would raise public investment to 4.6% of national income. Total expenditure closer to £700b, which is £500b short of Tory figure.

CLAIM: the IFS says Labour’s plans are “simply not credible”
FACTS: the size of the state would increase to 44 per cent of GDP, about the same as Germany & smaller than France, Italy & many others

CLAIM: austerity was necessary because Labour overspent
FACTS: it was a political choice—and the global financial crisis was cause by bankers in the City not nurses or teachers

CLAIM: Johnson will get Brexit done while Labour means delay
FACTS: if Johnson’s deal passes there will be a political crisis over the transition & the UK will waste most of the 2020s on Brexit. Labour will put the issue to bed by a referendum between Remain & soft Brexit.

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