Chancellor Jeremy Hunt says Labour “doesn’t know whether it is coming or going when it comes to economic policy” after promising that the Conservatives will bring the tax burden down.
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00:00 I'm not pretending at all these aren't difficult decisions.
00:02 What I'm saying is which government do you trust to show restraint on public spending
00:08 so that we can carry on bringing the tax burden down?
00:12 A Labour party that's got nearly £40bn of unfunded spending commitments for the next
00:18 parliament. Lots of worthy things but things they can't explain where the money will come from.
00:24 Or a Conservative government that will take the difficult decisions that we know
00:28 are the right ones for the long-term health of the economy.
00:31 And just look at what the Managing Director of the International Monetary Fund said
00:35 about the UK economy just last week. She said it's in a good place,
00:39 we're going to grow faster than France, Germany, Italy or Japan,
00:43 we've created more jobs than nearly anywhere else in Europe since 2010.
00:48 We do not want to put that at risk with a Labour party that frankly
00:52 doesn't know whether it's coming or going when it comes to economic policy.
00:55 Let's look at what the independent OBR say. They say that cutting national insurance
01:00 doesn't just put £900 into people's pockets helping them with the cost of living pressures,
01:06 but it actually means we'll get 200,000 more people, or the equivalent of, into the Labour
01:12 force. That fills nearly a quarter of vacancies in the economy. In other words, cutting tax is
01:17 good for growth. And that's the big dividing line about economic policy. We recognise,
01:23 as do the OBR, that these cuts in national insurance help to grow the economy.