The Sky News research claims Jeremy Corbyn’s left-wing policies will at least treble the country’s debt burden under its current economic plans.
Ed Conway, Sky News’ economics editor, showed how Labour’s net borrowing would reach £12.5 billion by 2021/22.
The Conservatives, while increasing net borrowing, would only allow the deficit to rise to £7.5bn, with the Liberal Democrats planning on borrowing £8.7bn.
Conway said: “It’s striking how little the parties are talking about this.
Ed Conway produced a graph that explained just how much debt Labour will pile on.
“You’ve got this existing plan, this is basically how big the deficit is going to be come 2021/22 – £4bn worth of borrowing by 2021/22, the end of the parliament.
“Do the Conservatives want to borrow more? It turns out they are going to borrow more than under their current plans, about £7.5bn by the end of the next parliament. We haven’t heard much about this in their manifesto, but never the less it’s more borrowing and a bigger deficit.
“A similar thing for the Lib Dems, a bigger deficit at the end of the parliament (£8.7bn), and then Labour: the biggest deficit of all by the end of the parliament.
“We’re talking in short about a lot more borrowing, a lot more debt, whoever wins this election, which is very striking given that the last election all about the deficit.”
This graph shows how much Labour would borrow according to their manifesto.
Senior Tories have warned Labour leader Mr Corbyn is ready to detonate a £45bn “bombshell” of tax rises and Government debt if he becomes prime minister.
The massive gap between Labour’s spending commitments and revenue-raising plans will mean that every household in the UK could face more than £1,600 in extra taxes and debt liability by 2020, according to their research.
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David Davis, the Brexit Secretary, said: “Jeremy Corbyn’s nonsensical and irresponsible ideas pose a grave risk to the future of Britain’s economy and the finances of every family in the country.
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His many ill-thought through promises simply don’t stack up and could not be paid for.
“The damage this bombshell would do to the country’s finances if Corbyn’s coalition of chaos were given the keys to Downing Street would be disastrous.
“Only a vote for the strong and stable leadership of Theresa May on June 8 will lock in the economic progress we have made.”