Labour’s election co-ordinator, Pat McFadden, has announced that his party will not include any tax cuts in their manifesto, which will be released later in the day in Manchester. This decision was made in response to the Conservative party’s promise of national insurance reductions in their own manifesto.
During an interview on the Radio 4 Today programme, McFadden emphasized that the Conservative manifesto is viewed as a recipe for chaos over the next five years. He stated that Labour is taking a different approach and will not repeat the same mistakes. According to McFadden, tax cuts must be sustainable and affordable in order to be feasible.
McFadden elaborated on Labour’s proposed policies, which are aimed at boosting economic growth. These policies include the establishment of a National Wealth Fund, the creation of “GB Energy,” labor market reforms, improved childcare options for parents, a new industrial policy, as well as planning reforms. He highlighted that Labour does not believe that the future growth rate has to mirror that of the past.
