Keir Starmer accuses Tory of ‘gambo’ economics

Sir Keir Starmer accused the government of gambling the mortgages and finances of the British people with its casino economics Speaking before his party's conference in Liverpool, the Labour leader said that Tory casino economics is gambling the mortgages and finances of every family in the country. The growth will be secured for working people and the community as a whole. My government will give a greener, fairer future. The chancellor, Kwasi Kwarteng, has announced his fiscal aspirations in a 45 billion tax-cutting package that will benefit the richest 1% at the cost of struggling households.

He said economic policy should focus entirely on growth after he announced his mini-budget on Friday.

Labour's deputy leader Angela Rayner said the next generation would be worse off after the government's trickle-down approach to economics.

She told BBC Breakfast that growth hasn't expanded and people haven't seen the economy grow in a way that we need it to, because we've had 12 years of the Conservatives.

We have seen trickle-down economics before. It doesn't work, we don't believe it will stimulate the economy. I think it will make the next generation worse off. The deputy leader of Labour said that her party's plan for growth would be different, adding: We wouldn't be making decisions around the tax cuts at the moment, we don't think that s the way forward. We would be asking the oil and gas companies to pay a little bit more when they made billions of pounds of profits instead of putting it all on the national debt. We don't think that is the right priority. Rayner suggested that Labour would reverse the income tax cut in order to boost sustainable growth and ease the cost of living crisis for those on the lowest wages.

We have said that the income tax cut is the wrong priority. She told BBC Radio 4's Today programme that they don't think that s a priority.

We'll set out our tax proposals which will guarantee that those on the lowest wages' cost of living will improve. We will invest in high-skilled jobs and renewables, so we are self-reliant on our energy needs. The Institute for Fiscal Studies said that the only people who earn over 150,000 dollars would be worse off, while the rest would be left behind by the tax cuts in the coming years.

Paul Johnson, the IFS director, told BBC Breakfast, if you looked straightforwardly at people's incomes with these tax changes, the more money you have, the more money you gain, the more money you have, the more money you have, the more money you have, the more money you have, the more you gain, according to Paul Johnson, IFS director.

In fact, because there was one big tax increase, the chancellor didn't reverse that, and that is the fall over time in the point when you start paying income tax. The only people earning more than 150,000 a year is when you take that into account in three or four years time.

If you got less than 150,000 a year coming in, if you are part of the 99% with less than 150,000 coming in, you are worse off as a result of tax changes coming in over the next two or three years. The government has defended criticism of the chancellor's mini-budget, saying it was not a gamble but a necessity. We can't continue with high taxes and we can't accept lower growth than we would like because the people in this country want higher wages, the chief secretary of the Treasury, Chris Philp, told Times Radio.

He added that the only way to deliver those aspirations was through a growth plan.