Tags
austerity, economic, economy, election, general, Lib Dem, Liberal Democrat, Mike Sivier, permanent, policy, political, Vox, Vox Political
Evolve Politics has called this one right, I’d say.
Starting from the terrible position into which the Tories have plunged us – huge and increasing national debt, with profitable public services privatised – it would be impossible for them to provide the investment we need and meet their “budget surplus” rule.
It’s playground economics – and may be worse even than the Tory economic plan revealed by Sajid Javid a few days ago.
The Liberal Democrats have slammed Labour’s plans to invest in public services and promised to put Britain into a state of permanent austerity if they win power in the upcoming General Election on December 12th.
Announcing the party’s economic vision at a speech in Leeds yesterday, the Lib Dem’s Deputy Leader, Ed Davey, hit out at Labour’s promise to pump investment into the NHS and other public services by labelling the plans as “fantasies” which would wreck the country’s finances.
Davey also promised that, if they attained power, the Lib Dems would implement a fiscal rule which would compel them to run a permanent 1% budget surplus at minimum.
Davey’s fiscal rule pledge would mean that, under the Lib Dems, spending on public services would remain permanently lower than the amount brought in through tax reciepts.
The Lib Dems’ plans would effectively prohibit the party from providing any extra investment into public services, such as the NHS or schools, unless the government were able to raise more money through tax rises or spending cuts elsewhere – even if the services were in desperate need of extra funds.
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