Labour’s election chief boasts they have ‘bucketloads of cash’ to spend as Jeremy Corbyn unveils new £5.5bn housing pledge
Leftie leader added yet more to his ‘Magic Money Tree’ with pledge to introduce stamp duty ‘holiday’ for first-time buyers
LABOUR’s election chief boasted they had “bucketloads of cash” to spend today as Jeremy Corbyn unveiled a new £5.5BILLION housing pledge.
The leftie leader added yet more to Labour’s ‘Magic Money Tree’ with a pledge to introduce a stamp duty ‘holiday’ for first-time buyers –and slash the price of 100,000 homes.
Key ally Ian Lavery crowed that a Labour government would “redistribute” wealth and bellowed: “Let nobody tell you this country has no finance.
“We’ve got buckletloads of cash. It’s how best we spend it.”
Mr Lavery – a candidate for Wansbeck in Northumberland - was speaking at a Jeremy Corbyn campaign rally on Teesside this morning.
Tory Ministers immediately blasted Labour for making yet another “unfunded” pledge on the eve of the Election.
The Sun last week revealed Labour could to blow a £300 billion blackhole in the government’s balance sheet.
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Under the promise, 350,000 first-time buyers a year would be able to wait two years before they pay any stamp duty – blowing a £560 million hole in the Treasury’s coffers until 2019.
Labour also said it would earmark £5 billion to discount 100,000 homes by as much as 40 per cent for first-time buyers over the next Parliament.
Mr Corbyn said locals would also get “first dibs” on half of all homes built in their area.
And the party would extend the current Government’s Help to Buy, currently due to expire in 2021.
Andrew Percy, the Minister for the Northern Powerhouse, said: “This is just another unfunded promise Jeremy Corbyn can’t deliver.
“Last time Labour crashed the economy, housebuilding fell to its lowest peacetime level since the 1920s.
“And with Jeremy Corbyn in charge of the Brexit negotiations and John McDonnell in charge of the economy you’d see the same all over again.”