Starmer has outlined Labour’s so-called “securonomics” at an event hosted by the Resolution Foundation today, vowing to be “ruthless when it comes to spending every pound wisely”, whilst promising to not “turn on the spending taps”. However, during his long speech about what Labour would do with the economy, there was no mention of Labour’s £28 billion a year black hole…

Until he was pushed in the Q&A, Starmer didn’t discuss the flagship policy, perhaps because multiple people on the left and right have said the “sums don’t add up“. Even when asked what the difference was between Hunt and his economic policies, he merely pointed to the past 13 years of Tory government, avoiding the obvious difference that is Labour’s plan to borrow the £28 billion a year. Squirming in his seat, Starmer told the audience that Labour will only ramp up to the figure in the second half of parliament if it is in line with their “fiscal rules“. Looks like the borrowing taps won’t be turned off if Labour enters Downing Street…