Economists have been ploughing through the Tory manifesto and are starting to give their verdicts.
Paul Johnson, director of the Institute for Fiscal Studies, notes the lengthy document says nothing about £11bn of tax rises – implied by the freezing of income tax bands.
He goes on to say the document promises £17bn a year of tax cuts, alongside a big hike in defence spending.
This is funded by cutting welfare by £12bn, alongside measures like cracking down on tax avoidance and evasion, and cutting the civil service.
“Those are definite giveaways paid for by uncertain, unspecific and apparently victimless savings,” Mr Johnson says.
“Forgive a degree of scepticism.”
While the Tories did manage the £12bn of welfare savings promised in 2015, it took “serious cuts” and happened two years behind schedule.
And this time it is harder, he says.
Tax cut to cost £10bn
Mr Johnson says: “The trouble is the policies that have been spelt out are not up to the challenge of saving £12bn a year.
“Some have already been announced and included in the official fiscal…
