Clegg wrong to claim Labour would have cut capital investment at same rate as government

OBR figures show Nick Clegg was wrong to claim Labour would have cut capital investment at the same rate as the government.

Nick Clegg last week said the government was wrong to cut capital expenditure – claiming the reduction was in line with plans drawn up by the previous Labour government.

The latest figures from the Office for Budget Responsibility, however, show the coalition has spent £12.8 billion less in capital investment than Labour’s plans – eight per cent less than the plans they inherited.

See Graph 1:

Over the course of this parliament, they are set to have spent £7.3 billion less on capital investment than under Labour’s plans.

Clegg may have been correct in calling the cut in capital expenditure a mistake – but his attempt to play politics and suggest Labour would have done the same undermines that message.

As you’re here, we have something to ask you. What we do here to deliver real news is more important than ever. But there’s a problem: we need readers like you to chip in to help us survive. We deliver progressive, independent media, that challenges the right’s hateful rhetoric. Together we can find the stories that get lost.

We’re not bankrolled by billionaire donors, but rely on readers chipping in whatever they can afford to protect our independence. What we do isn’t free, and we run on a shoestring. Can you help by chipping in as little as £1 a week to help us survive? Whatever you can donate, we’re so grateful - and we will ensure your money goes as far as possible to deliver hard-hitting news.

Comments are closed.