With just a fortnight to go until we stand in a voting booth with a pencil and a slip of paper, the big three have published their manifesto's and we can now see how the Conservatives, Labour and Lib Dem's will be spending our tax.
The Conservatives will increase spending by a modest £2.9bn although they had done a bit of a sleight of hand and only counted 'new' proposals and not included the £53.8 of spending pledges which they pushed through before the end of Parliament so their boast of being fiscally responsible by only increasing spending by £2.9bn a year and that being fully costed rings rather hollow.
Labour have said they would increase spending by £98bn a year and the Lib Dem's will add an additional £37bn annually with the bulk of the spending coming from tax increases aimed at corporations and the raising the income tax threshold for the wealthiest while the Conservatives will raise National Insurance contributions for high-earners and increase property taxes for foreign buyers.
The Institute for Fiscal Studies (IFS) has cast doubts on the Labour and the Conservatives plans, saying both will fail to deliver the much-needed revenue to the Treasury to achieve the spending promises and only the only party which would 'put debt on a decisively downward path' is the Liberal Democrats.
As the Conservatives have already been caught out promising to build 40 new hospitals when it is actually 6, will employ 50,000 new nurses but the figure is actually 31,500 as they included 18,500 already working in the NHS and taking on 20,000 new police officers which is less than the 21,000 they cut and the Lib Dem's using false information on their leaflets, you really do need to look at the
promises made by all of the political parties with a cynical eye.
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