Tuesday 7 February 2017 / 11:25 AM 2017 Press Archive / The Latest from Labour

John McDonnell responds to the IFS Green Budget

John
McDonnell MP, Labour’s Shadow Chancellor
, responding to the publication of the IFS Green
Budget today, which reveals that the Tories are going ahead with £34bn in
additional austerity at a time when the NHS is in crisis following the slowest
growth in health spending since the 1950s, said:

“This
report from the IFS is damning of the seven wasted years of Tory economic
failure. Rather than learning the lessons of his predecessor, Philip Hammond is
pursuing an austerity agenda that will make matters in our NHS and social care
system even worse.

“The Chancellor who has been at the heart of government since 2010 must
take his share of responsibility, especially as the IFS is now cutting
growth forecasts with the national debt at its highest as a fraction of
national income since England won the World Cup, and with the tax burden at its
highest in thirty years.

"The fact the NHS is seeing its slowest growth in funding since the 1950s
proves you cannot trust the Tories with our health service. And the social care
crisis is only set to get even worse as the Tories refuse to provide the
funding needed, continuing to let elderly people in our communities down.

"Rather
than going ahead with £34 billion of austerity while our public services are
already stretched, which as the IFS say have under the Tories seen the longest
fall in funding on record, it is time for the Chancellor to truly change
direction.

"Labour would call for a serious boost to investment, underpinned by our
Fiscal Credibility Rule, which would help bring an end to a Tory economy rigged
against working people; sort out the public finances; and get the national debt
under control.”