The Chancellor was criticised for the way he had worked out the calculations, which were made by Treasury officials but on the basis of assumptions drawn up by Conservative advisers.But Paul Johnson, of the Institute for Fiscal Studies, warned that the figures at stake were relatively insignificant compared to the need to find significant savings next year in order to balance the books without additional tax or borrowing.
He continued: “The numbers he has pencilled in, the reason he’s not going to tell us is he would have to tell us where the cuts are going to fall, and he won’t do that – and nor will Labour, because they’re not saying whether they going to have more money to spend, and if they’re not going to have more money to spend they’re going to have to face the same incredibly tough choices that Hunt is avoiding.
Mr Hunt claimed the dossier showed Labour would need to raise an extra £10bn a year by 2029, but shadow ministers insisted the calculations were based on incorrect assumptions and contained a number of factual errors.
Source: Insurance Report (insurancereport.net)
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