Thread by @TheIFS

Looking for independent analysis of the #LabourManifesto?

🔍 Get initial reaction from IFS researchers on our election website, funded by @NuffieldFound.

ifs.org.uk/election/2019/…

All 3 main parties have now announced plans for corporation tax rates.

In the short term these plans could raise £20bn (Lab) / £8bn (LD) / £6bn (Con) a year relative to pre-election plans to cut the rate to 17%.

In the longer term, lower investment would reduce these figures.

The #LabourManifesto includes plans for an £80bn increase in day-to-day spending by 2023/24, along with an additional £55bn of investment spending each year.

This would mean a marked expansion in the size of the state and would represent a sharp break with the recent past.

Labour's plan to keep the state pension age at 66 would be costly – it could add around £24bn per year to the cost of pensions by the 2050s.

More targeted policies would better address concerns about those unable to work at older ages, or groups with shorter life expectancies.

The highest-earning graduates would benefit most from Labour’s policy of scrapping fees and bringing back maintenance grants. Loan repayments for the top third would fall by around £50k.

Actual loan repayments for low-earning graduates would be almost completely unaffected.

Labour’s and the Liberal Democrats’ plans would effectively reverse cuts in spending per pupil of 8% since 2009-10, but would still leave spending per pupil about the same level in 2022-23 as it was in 2009-10.

Today’s proposals from Labour would increase health spending in England by an average of 4.3% per year from 2019–20 to 2023–24.

This is higher than the 3.8% proposed by the Liberal Democrats and the 2.9% implied by existing plans.