The danger is a slide into a fantastical tit-for-tat on spending
If the main parties want to head into ‘you can’t believe a word any party says’ territory, they are going the right way about it
Replying to Labour criticism, James Bowler, the chief Treasury civil servant, made pretty clear that he disliked the practice of having the claims associated with his officials: “I agree that any costings derived from other sources or produced by other organisations should not be presented as having been produced by the Civil Service.”
In my view, this is one of the less compelling ripostes, since no one believes that Labour would have taxed less in and after the Covid period and given the energy crisis and war in Ukraine. So, trying to retro-spin Labour as tax-cutters at a time of national crisis fails a credibility test. The economy could also grow a bit faster than the current doldrums analysis – or borrowing might fill the gap. In truth, neither side knows how public finances will work over four or five years.
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