Sir Keir Starmer will take aim at Conservative leadership contenders later today, claiming more than £200bn of commitments made as part of a “fantasy economy arms race” are unfunded.
Speaking in the North East, the Labor leader is also expected to blast Tory MPs who served in Boris Johnson’s government for their “hypocrisy” in backing tax rises despite being “against them all over”. time”.
It comes after Jeremy Hunt and Sajid Javid threw their hats into the race to be the next prime minister, saying they would scrap plans to raise corporation tax from 19% to 25% and instead cut it to 15%.
In addition, Mr Javid has promised to scrap the controversial rise in national insurance, bring forward a planned 1p income tax cut to next year and introduce a temporary cut in fuel duty.
Tax cuts have been a hot topic of conversation in the contest so far, with Foreign Secretary Liz Truss, Chancellor Nadhim Zahavi, Transport Minister Grant Shapps, Attorney General Suella Braverman and Kemi Badenach promising to implement some.
However, Sir Keir appears to have found a problem with their plans, claiming that none of the bidders had said how they would be paid.
During his speech on Monday, he is due to say: “I cannot believe what we are hearing from the candidates to be the next Tory leader.
“The vast majority of them served in Boris Johnson’s government. Hypocrisy is nauseating.”
He will go on to accuse the Conservative candidates of using “fantasy economics”.
“Over the weekend, claimants took on more than £200bn of unfunded spending commitments. Let it stand,” Sir Keir is expected to say.
“That’s more than the annual NHS budget splashed across the pages of the Sunday papers, without a word about how it’s going to be paid for.”
He will also claim that Labor will “explain every pound” of its promises when it fights the next general election.
“When I say we’re going to pay for kids to catch up in school, I’m also saying it’s going to be funded by de-charitable private schools,” he explained.
“When I say we need to crack down on mental health treatment in this country, I’m also telling you we’re going to do it by closing the tax loopholes used by hedge funds.
“We will explain every pound because Labor will be fighting growth at the next election. And the first line of the first page of our proposal will be about wealth creation.”
Using the speech as an opportunity to talk about the Labor administration, Sir Keir will also talk about a “fresh start” for the UK economy and the three ideas that will define his government.
“Only Labor can reboot our economy and end the cost of living crisis. Only Labor can revitalize our public services and revitalize our communities. Only Labor can unite the country and carry out a clean-up policy,” he will say.
“These three challenges will define my government because until we address them, we will leave ourselves vulnerable to the upheavals and crises we have all experienced over the past decade.”