Labour spending plans to create £58bn hole in public finances, claim Tories

Labour spending plans to create £58bn hole in public finances, claim Tories

Len McCluskey, the general secretary of the trade union Unite and a key ally of Jeremy Corbyn, has said he expects Labour to lose the general election and suggested a "successful campaign" would be if the party limited its losses to 32 seats in next month's poll.

The party says Anglian, Severn Trent and Yorkshire paid more in dividends than they made in profit in that period, meaning they were borrowing on the back of household bills to pay shareholders.

"This manifesto shows a fairer Britain is possible with a Labour government putting the interests of the many before those of the few".

You can view the manifesto in full here.

Labour will also promise to renationalize the railways, the Royal Mail postal service and water companies, according to various reports.

Mr Hammond said: "There is a £58bn black hole in Jeremy Corbyn's manifesto".

Labour said it will not try to overturn Britain's decision to leave the European Union, but will "negotiate a deal that preserves jobs and access to the single market" and maintains standards of workers' rights established under the EU.

However, McCluskey's remarks are likely to be seized upon by Corbyn's opponents inside the party as evidence that the leadership has all but given up hope of winning the election and has turned its attention to lowering expectations in order for Corbyn to cling to power after June 8. In other manifesto promises Labour says it will raise taxes on people earning more than the equivalent of 82,000 euros a year as well as crack down on tax avoidance.

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"[The manifesto] represents something that is the mainstream opinion among the Labour Party membership".

Media captionJeremy Corbyn: "This is a manifesto for all generations".

Gideon Skinner, head of political polling at Ipsos MORI, said: "Labour shouldn't get too carried away by the rise they see in the polls".

Another read: "It is simply not worth taking the risk of this shambles being in charge of our economy and our Brexit negotiations in three weeks' time".

However, despite Labour likely heading towards its worst UK General Election results, with UK polls indicating that the party may loss between 50-60 seats, William Hill has detailed that Corbyn is still being backed to remain as party leader post 8 June.

The BBK don sat down with the Labour party politician to discuss ways to engage young people with politics, following some Twitter interaction.

Mr Corbyn appears to have benefited from publicity over his far Left manifesto at the expense of the Lib Dems who have seen support collapse by 6 points to just 7 per cent. The proposals form the most leftwing Labour manifesto since Michael Foot's disastrous 1983 campaign.

"I don't think it matters whether I'm a fan or not", he said.

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