The Tories can’t offer tax cuts – there will be no money left after Brexit | Simon Wren-Lewis

While Brexit would mean more stagnation, Labour’s spending plans would boost the economy without frightening off investors

The two main parties’ policies on tax and spending have had plenty of attention in this election campaign. Yet few have commented on quite why there is such a difference between their plans.

Labour has a huge number of proposals to increase current spending. The party is promising to abolish tuition fees and to put more money into schools and early-years education, the health service, local government, social care, universal credit and public sector pay. These will be paid for by higher taxes on higher earners and companies.

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