"This was Labour’s manifesto last June." This is the analysis of the cost and or implications of those policy's:
1.Scrap student tuition fees:
Analysis:
Retracted pledge (Angela Rayner) and John McDonald:
Labour retracted its pledge to abolish student debt yesterday as Shadow Education Secretary Angela Rayner said there had been “no plans” to write-off existing loans and her party “never promised to do so”.
www.telegraph.co.uk/education/2017/07/19/labour-retracts-tuition-fees-pledge-angela-rayner-says-no-plans/
2. Nationalisation of England's nine water companies.:
Analysis: Ofwat says the regulatory capital value of the water companies in England and Wales stands at £66bn, excluding debt or pension liabilities. The cost of taking them back into public ownership is not included in the manifesto costings as it would be funded through capital borrowing. John McDonnell said on Tuesday that the process could either be through outright purchase or an exchange of shares in water companies for bonds. Senior Welsh Labour figures immediately suggested that Welsh Water’s not-for-profit structure might be a better model.
www.theguardian.com/politics/2017/may/16/labour-manifesto-analysis-key-points-pledges
3.Re-introduce the 50p rate of tax on the highest earners (above £123,000)
Income tax rate 45p on £80,000 and above:
Analysis: Labour has pledged not to raise the tax burden of those on low and middle incomes. The standard income tax rate will remain unchanged as will VAT. That means someone on the average wage of £26,500 will pay the same. Labour plans to apply the 45p rate to the 500,000 who earn between £80,000 and £100,000. The Institute for Fiscal Studies said this group would pay on average £400 more a year. The 300,000 earning between £100,000 and £123,000 would lose up to £2,725 while the 50,000 earning over £500,000 would all lose at least £22,900 a year. Philip Inman
www.theguardian.com/politics/2017/may/16/labour-manifesto-analysis-key-points-pledges
4.More free childcare, expanding free provisions for two, three and four year olds
Analysis: To create sufficient childcare places to meet their pledge, Labour would replace parents’ vouchers with directly government-subsidised places. The party acknowledges that this will need substantial capital investment in the first two years to create the places.
www.theguardian.com/politics/2017/may/16/labour-manifesto-analysis-key-points-pledges
5.Guarantee triple lock for pensioner incomes:
Analysis: Freezing the state pension age is a costly measure, though for the next parliament rather than this one. But a Labour win would alter people’s calculations over what they need to save, so the policy change is important. Early estimates of the impact have ranged between £90bn and £300bn over the next 30 years, significantly adding to government borrowing or the level of taxation.
Plus:
Analysis: There is no mention of this pledge in the manifesto or costings document. There are no spare funds in Labour’s calculations for extra welfare spending. To counteract the effects of planned cuts, under Labour’s current plans it would need to increase borrowing. A further policy paper is promised.
www.theguardian.com/politics/2017/may/16/labour-manifesto-analysis-key-points-pledges
6.End to zero hours contracts
Labour has pledged to ban all zero-hours contracts, put a halt to unpaid internships and end the pay cap on public sector staff in an unashamedly leftwing pitch to British workers.
In a move welcomed by union leaders but that will be attacked as “anti-business” and unaffordable by opponents, the 20-point blueprint also includes commitments to double paid paternity leave to four weeks, increase paternity pay and guarantee temporary and part-time workers the same rights as full-time employees.
www.theguardian.com/politics/2017/apr/29/election-labour-mcdonnell-corbyn-zero-hours-economy
7. Hire 10,000 new police officers, 3,000 new firefighters
Analysis: Public sector recruitment: An earlier pledge to recruit 1,000 extra border guards has been halved to 500 and a promise to recruit 3,000 firefighters has been added. The extra costs of 10,000 police officers are budgeted at £300m but the costs of 3,000 more prison officers, the extra firefighters and border staff are not separately identified.
www.theguardian.com/politics/2017/may/16/labour-manifesto-analysis-key-points-pledges
8.Moves to charge companies a levy on salaries above £330,000:
Analysis: An excessive pay levy is Labour’s attempt to tackle stratospheric wages with an extra tax. It would affect everyone from company bosses to well-paid sportspeople. With a starting rate of “total compensation” of £330,000 a year, the total raised “would be over £1.3bn”.
www.theguardian.com/politics/2017/may/16/labour-manifesto-analysis-key-points-pledges
9.Deliver rail electrification "including in Wales and the South West".:
No costings.
www.theguardian.com/politics/2017/may/16/labour-manifesto-analysis-key-points-pledges