Claim: Public finances are worse than Labour expected before entering government, with the Treasury identifying a £22 billion shortfall this year.
Fact-check: Is Labour right to claim the public finances are worse than expected? - Full Fact
Verdict: the ifs says many of the challenges labour outlined this week were "entirely predictable", and during the election campaign the think tank said that a new government would likely see a shortfall of £10-£20 billion by 2028/29. but it has since said the financial pressures do "genuinely appear to be greater than could be discerned from the outside".
Organisation: Full Fact
Author: Nasim Asl
Date published: 2024-07-30T00:00:00