Australia  

UK's Javid says opposition Labour would trigger economic crisis

Video Credit: Reuters - Politics - Duration: 01:48s - Published
UK's Javid says opposition Labour would trigger economic crisis

UK's Javid says opposition Labour would trigger economic crisis

British finance minister Sajid Javid said the opposition Labour Party's spending plans would trigger an economic crisis within months, citing a contested dossier published by his Conservative Party and refusing to give costs for his own fiscal strategy.

Emer McCarthy reports.

With a general election just over a month away, British finance minister Sajid Javid didn't hold back when quizzed on the opposition Labour Party's spending plans-- citing a contested Conservative Party report.

(SOUNDBITE) (English) BRITISH FINANCE MINISTER, SAJID JAVID, SAYING: ''These are eye-watering levels of spending - 1.2 trillion (pounds) - it will be absolutely reckless and will leave this country with an economic crisis within months, not years, within months." The Conservatives-- who are currently ahead in opinion polls, said the figure was based on Labour's manifesto for the 2017 election and estimates of more recent policy pledges.

But Labour has strongly dismissed the report, which said it would increase spending by 1.2 trillion pounds ($1.5 trillion) over the next five years, calling it fake news.

Speaking on the BBC's Andrew Marr Show, Javid stopped short of putting a price tag on his party's spending plans-- saying it would fully account for new spending when the party's manifesto is published.

(SOUNDBITE) (English) BRITISH FINANCE MINISTER, SAJID JAVID, SAYING: ''We are going to have a fiscal anchor and we are going to be very clear about how we spend and borrow and it is always going to be controlled.

And that is a huge difference to where Labour is.

A huge difference" Labour has also pledged to explain how it would pay for its programme for government.

In a blow to the world's fifth largest economy, credit ratings agency Moody's warned on Friday (November 8) that it might cut its rating on Britain's sovereign debt again-- arguing that neither of the main political parties in next month's election was likely to tackle high borrowing levels which Brexit had made even harder to fix.

Javid said it was never good to be downgraded and blamed it on the "paralysis in decision-making" in a "dysfunctional parliament".




You Might Like


💡 One News Page Knowledge: Other News Mentions

Labour Party (UK) Labour Party (UK) Centre-left political party in the United Kingdom

Ken Livingstone dismisses anti-Semitism report as 'farce' [Video]

Ken Livingstone dismisses anti-Semitism report as 'farce'

Former London Mayor Ken Livingstone has dismissed the Equality and Human Rights Commission report into anti-Semitism within the Labour party as a "complete farce". Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 01:21Published
Jeremy Corbyn vows to contest Labour Party suspension after anti-Semitism findings [Video]

Jeremy Corbyn vows to contest Labour Party suspension after anti-Semitism findings

Jeremy Corbyn says he will contest the decision to suspend him from Labourafter a human rights watchdog found the party under his leadership brokeequality laws in its handling of anti-Semitism.

Credit: PA - Press Association STUDIO    Duration: 01:30Published
Starmer defends Corbyn suspension [Video]

Starmer defends Corbyn suspension

Labour Leader Sir Keir Starmer has defended the decision to suspend Jeremy Corbyn from the party pending an investigation over comments he made about anti-Semitism within Labour. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 00:49Published
Ex-leader Jeremy Corbyn suspended from UK Labour Party amid damning anti-Semitism report [Video]

Ex-leader Jeremy Corbyn suspended from UK Labour Party amid damning anti-Semitism report

It comes after an investigation slammed the Labour Party over its response to allegations of anti-Semitism within its ranks.View on euronews

Credit: euronews (in English)    Duration: 02:28Published
Corbyn suspended from Labour Party [Video]

Corbyn suspended from Labour Party

Jeremy Corbyn has been suspended from Labour after stating that anti-Semitism in the party had been "dramatically overstated for political reasons". Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 02:17Published

Conservative Party (UK) Conservative Party (UK) Centre-right political party in the United Kingdom

Towns to receive Covid £3.6bn funding boost, Zahawi says [Video]

Towns to receive Covid £3.6bn funding boost, Zahawi says

Business Minsiter Nadhim Zahawi has said seven areas across England are to receive millions of pounds worth of funding to invest in their local economies throughout the Covid pandemic. The announcement comes as Conservative MPs called on Prime Minister Boris Johnson to set out a clear 'roadmap' to ending lockdown restrictions in the North. Report by Chinnianl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 01:14Published
Boris Johnson under pressure to detail ‘road-map out of lockdown’ [Video]

Boris Johnson under pressure to detail ‘road-map out of lockdown’

Boris Johnson is under pressure from scores of Conservative MPs to detail a“road-map out of lockdown” as more people in England come under the toughestcoronavirus restrictions. The Prime Minister has been warned by a group of 50Tory backbenchers representing northern constituencies that the pandemic isthreatening his election pledge to “level-up” the country. More than eightmillion people in England – predominantly in the North – will be under themost stringent Covid-19 restrictions by the end of the week.

Credit: PA - Press Association STUDIO    Duration: 01:00Published
Rees-Mogg channels Peppa Pig to praise puddle jumping [Video]

Rees-Mogg channels Peppa Pig to praise puddle jumping

Commons Leader Jacob Rees-Mogg recalled an episode of Peppa Pig as he gave his support for a puddle jumping contest. The World Puddle Jumping Championships are usually held at Wicksteed Park in Kettering but in order to comply with social distancing restrictions this year they are taking place online. Kettering's Conservative MP Philip Hollobone called for a "statement in support" of the event. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 01:20Published
Deputy Labour leader accused of ‘scum’ insult during debate [Video]

Deputy Labour leader accused of ‘scum’ insult during debate

Labour deputy leader Angela Rayner was engulfed in a row as she was accused of calling a Tory MP "scum" during a Covid-19 debate in the House of Commons. Conservative MP Chris Clarkson said the insult was hurled at him after he insinuated that members of the shadow front bench believe the pandemic is a "good crisis" to exploit. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 01:28Published
Greater Manchester Mayor Burnham says he has full support [Video]

Greater Manchester Mayor Burnham says he has full support

Greater Manchester Mayor Andy Burnham says he has the support of local Conservatives and rejects accusation of partisanship. He says leaders in Manchester were told Tier 3 may not work, and that national lockdown can't be ruled out. Report by Odonovanc. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 01:06Published

Tweets about this


Related videos from verified sources

UK's Javid says opposition Labour would trigger economic crisis [Video]

UK's Javid says opposition Labour would trigger economic crisis

British finance minister Sajid Javid said the opposition Labour Party's spending plans would trigger an economic crisis within months, citing a contested dossier published by his Conservative..

Credit: Rumble     Duration: 01:49Published
Chancellor claims Labour would plunge Britain into economic crisis [Video]

Chancellor claims Labour would plunge Britain into economic crisis

Labour would plunge Britain into an economic crisis "within months", Sajid Javid has warned, as he defended the Conservative's claim that Jeremy Corbyn's policies would cost £1.2 trillion. The..

Credit: PA - Press Association STUDIO     Duration: 01:52Published