While the election focus has been on tax, the main parties have been accused of a “conspiracy of silence” over what looks like an inevitable squeeze on some public services after July 4. Even most of the commitments made are quite modest.
Public spending
Burning questions remain as to what the next government will do about the social care crisis, ailing NHS, cost-ofliving, homes shortage, courts system delays, overcrowded prisons, and growing welfare bill.
“The debate on tax and spending policy has been dominated by arguments about how a series of relatively small spending pledges would be funded,” said Resolution Foundation research director James Smith.
“But such debates are a sideshow compared to big questions about how the next government would manage the uncertainties facing the public finances. All this means that the fiscal debate has become detached from the fiscal reality.”
Some £19 billion of cuts to unprotected departments, including justice, the Home Office and local government, are “baked into post-election spending plans,” he added.
Labour is yet to commit to a date to raise defence spending to 2.5 per cent of GDP, with the Tories saying 2030.
Tax
Labour, like the Conservatives, have ruled out increasing income tax, VAT and national insurance. Yet the UK tax burden will grow, partly due to a £10 billion-a-year tax rise for three more years through stealth freezes on personal allowances and thresholds.
This story is from the July 01, 2024 edition of Evening Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 01, 2024 edition of Evening Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
In the eye of the storm A rich account of Britain's political chaos
Tim Shipman’s fourth and final tome covers Johnson to Sunak, via Truss
Is this government full of amateurs?
Labour's hard landing has revealed a cabinet struggling with the basics
It's going to be weird when the national anthem plays, but I'm so proud to lead the United States
Emma Hayes closed the book on 12 trophy-laden years at Chelsea with her fifth consecutive Women’s Super League title in May.
Can Guardiola fix 'fragile' City after latest implosion?
Rebuilding his ageing side will bea greater challenge than building it in the first place for one of the greats
London wins battle of the global city brands again...
...but the capital still has plenty of work to do ifit wants to keep that crown
At home with...Earl of East
The duo behind the fragrance brand have made a Leyton new-build their sanctuary
How evolution evolved: the risks and rewards of gene-editing technology
INDIA BLOCKspeaks to paediatrician and TV writer Dr Neal Baer about the controversial advancement
This beloved take on Dickens is a joyful gift that keeps on giving
AIl through a bright, bitter winter day I was smiling because I was coming to see Jack Thorne's adapAtation of Charles Dickens's story again.
Market merrymaking
Bundle up in your warmest coat, hat and mittens to visit the best Christmas markets in the UK.
Festive favourites
Perfect your Christmas spread with a vibrant spin on a seasonal staple.