Badenoch: Govt is living beyond its means

ODN

Conservative Party Leader Kemi Badenoch says the government is living beyond its means and has "lost control of spending completely". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Transcript

00:00No one knows better than accountants that you cannot spend what you do not have.

00:05And that is why I am here today.

00:08We are living beyond our means.

00:11We are spending more than we earn.

00:13On welfare, on union pay rises, and increasingly on debt interest.

00:19Alongside record levels of taxation, this government is borrowing more and more money,

00:26and our national credit card is close to maxed out.

00:28The markets are starting to worry.

00:32But rather than focus on these serious economic challenges facing our country,

00:36Labour are too busy blaming the last government for problems of their own making.

00:41They are finding governing harder than they thought.

00:44I could have told them that.

00:46Just last week, Keir Starmer launched Phase 2.

00:48Phase 2 didn't even last three days.

00:51Deputy Prime Minister is gone after trying to avoid the very same taxes that the Chancellor wants to put up.

00:57So they've just had a huge reshuffle.

01:00It's a huge reshuffle.

01:01But it is born not of strength, but a political crisis.

01:04And the person who has caused the most grief to our country, the Chancellor, is still in post.

01:10She has already put up taxes by about £40 billion.

01:13That's the biggest tax rate this country has ever seen.

01:16And in the next five years, she will double the deficit.

01:21So this combination of record taxes and borrowing can only mean one thing.

01:26That she has lost control of spending completely.

01:28And investors can see it.

01:30She will be lying there.

01:43She will say,

01:44Yes, yes.

01:47She will say,

01:50That she has all in the case.

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