Stride teases further tax cuts ahead of manifesto launch

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Mel Stride said that the Conservatives have a “very clear plan” to cut taxes, ahead of the party’s election manifesto launch.  The Work and Pensions Secretary insisted that any cuts in tax would be fully funded, saying “that is the distinction between the Labour party and ourselves.” Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00So what I think you're going to see is a very clear plan to bring people's taxes down in

00:05particular, to build on the fact that we've now got the joint fastest growing economy

00:10in the G7, that we've got inflation down to normal levels, we've got real wages now increasing

00:15for each of the last 11 months, all about creating financial security for people going

00:20forward. Now the Labour Party, we know we'll hear from them later in the week, have a black

00:25hole of £38.5bn of unfunded spending commitments and we know that they will be raising taxes.

00:33So what you're going to see with us is taxes coming down and under Labour, taxes going

00:36up. Our tax cuts are and will all be fully funded and we will set that out in a clear

00:42scorecard at the time that the manifesto is published. And that is the distinction between

00:49ourselves and the Labour Party. As regards public spending, we have a situation where

00:54the spending review has a 1% real terms increase in spending going forward. We're also going

00:59to be driving productivity in that area and that's really important because we are determined

01:04and we believe we can get productivity in the public sector back to the kind of levels

01:07it was pre the pandemic and if we can achieve that, and I'm confident we can, over the next

01:11five years that will be an extra £20bn available either for further spending or reducing our

01:18debt or indeed further tax cuts.

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