The opposition has pledged to spend £28 billion a year on its Green Prosperity Plan, but this could leave little extra money for rebuilding schools.
Labour’s plans would bring above-average investment but could still mean a “squeeze” on budgets for repairing schools and hospitals, the Institute for Fiscal Studies has said.
The IFS estimated this would mean, by the end of the next parliament, an extra £20 billion being spent per year on top of the £8 billion the Conservatives have already planned, increasing public sector investment to 2.6% of GDP compared to an average of 1.6% since the late 1970s. He said: “Current policy is for overall capital spending to be held more or less flat in cash terms after 2023–24.
He added: “It is clear that the specifics of things such as how Labour would redesign the Contracts for Difference scheme, or how its £2 billion Battery Power Fund would work, or how the new publicly owned energy company functions, will determine whether or not these are billions well spent.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Look is selling 'perfect' dupe of Mulberry's £795 tote for £28New Look has just launched its own high street version of Mulberry's classic Bayswater leather tote bag, meaning you can literally bag your own for a fraction of the price
Read more »
H&M is selling a £28 dupe of iconic £2,220 Gucci handbagThe bags looks incredibly similar in design and details
Read more »
Labour plans will boost investment but could squeeze money for new schoolsThe opposition has pledged to spend £28 billion a year on its Green Prosperity Plan, but this could leave little extra money for rebuilding schools.
Read more »
Labour issues attack ad taking aim at Rishi Sunak over school concrete scandalLabour revives its controversial social media campaign, asking: 'Do you think your child's school should be safe?'
Read more »
Corbyn campaigns against two-child benefit cap in latest hint he will stand against LabourThe former Labour leader is distributing leaflets in Islington North constituency calling for the welfare limit to be scrapped, in challenge to Sir Keir Starmer.
Read more »
Starmer ‘to reshuffle shadow cabinet on Monday’ as Sue Gray starts Labour roleAll eyes will be on what role Angela Rayner is left with following any changes, after recent speculation that she may lose some of her duties.
Read more »