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General election: Sajid Javid puts 3% cap on investment as he sets out Tory fiscal plans – live news

General election: Sajid Javid puts 3% cap on investment as



The chancellor and his Labour counterpart are both due to deliver speeches this morning outlining competing economic visions Sign up to the morning briefing: the day’s news delivered to your inboxFormer Labour MP Ian Austin tells voters to back Boris JohnsonTom Watson quits as Labour deputy leader 10.43am GMT Sajid Javid, the chancellor, is still speaking. He is now attacking Labour’s economic policies.He says Labour would “ruin your finances”, raise tax and “saddle the next generation with debt”. He goes on:That is not socking it to to the rich. That is stealing private investments. And how owns those investments? Your pension funds. 10.37am GMT And these are from Faisal Islam, the BBC’s economics editor.NEW: Chancellor announces a 3% public investment limit – still tens of billions more in public investment..

Thats about £20 billion a year more over Parliament.

Implication of McDonnell’s announcements overnight was around 4%.

Debt will still fall he says.

New era, New rules.The new Conservative fiscal rules – current average forecast Public sector net investment is 2.1% – 3% average is a limit, but provides space for about £100bn extra investment than planned over the Parliament.. pic.twitter.com/AHklOsz6zA Continue reading…



Source link : https://www.theguardian.com/politics/live/2019/nov/07/general-election-sajid-javid-and-john-mcdonnell-come-out-fighting-on-economy-live-news

Author : Andrew Sparrow (now); Matthew Weaver and Kate Lyons (earlier)

Publish date : 2019-11-07 10:43:00

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Tags : The Guardian

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