Starmer skewered by Tory MP after pledging MORE power for unions

Keir Starmer says he's 'looking at how to tax fairly'

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Conservative MP Lee Anderson told Express.co.uk that the Labour Party is sending Britain “back to the 1970s” with its policies. This came after Labour’s Shadow Chancellor Rachael Reeves said the party would introduce a National Economic Council if elected. This would see trade unions and industry leaders help to form policy.

A similar policy was influential in Britain in the 1970s, known as the National Economic Development Council, set up to bring together trade unions and government.

In her address to the party conference, the Shadow Chancellor also said Labour would introduce a National Wealth Fund to invest in green projects which will benefit the public.

She also said that the party would raise the minimum wage, saying it would introduce “a minimum wage that reflects the real cost of living”. This, she said, would be a “genuine living wage”.

But Mr Anderson said: “I wouldn’t trust Labour with the economy. They seem to be obsessed with the green option whilst everything is on the table for us – we’re being held to ransom by energy prices.”

Speaking to Express.co.uk about Ms Reeves’ policy announcements, Mr Anderson continued: “We cannot in five years be in the situation again. With the Labour Party, it would be terrible.

“They’ve been banging on about us raising taxes, but we know what they’re going to do. The way you grow the economy is to give people more money in their pockets.

“Let them decide how to spend it – If you give people an extra £10 that’s not going in a savings account.”

Hitting out at the Labour Party, Mr Anderson added: “The mask has slipped. The fact that they want to give the unions more power, we’re rewinding back to the 1970s.

“I remember the power cuts, the rubbish on the streets. That was the last time the unions had control. That didn’t end well for anyone.”

Labour’s latest policy announcement was also criticised by the Adam Smith Institute, a think tank which promotes free market economics.

Morgan Schondelmeier, the organisation’s director of operations, accused the party of “virtue signalling”, “instead of offering critical and considered alternatives to government policy”.

She told Express.co.uk: “At a time when unions are causing devastating disruptions for working people across the country, it’s astounding that Rachel Reeves would propose giving them even more power to hold us to ransom.

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“While the cost of living crisis is hitting us all hard and unions exist to demand better for their workers, bringing them closer to Government will not deliver for taxpayers.”

Addressing the Labour Party conference, Ms Reeves also criticised the Conservative Party for its latest economic policy announcement, saying: “The Chancellor had an opportunity to set out a serious response to the cost-of-living crisis. And he failed.

“What did we get instead? A tax cut for the wealthiest one percent. Increased bankers’ bonuses.”

The Government announced a swathe of tax cuts, including cutting the basic rate of income tax from 20 to 19 percent and abolishing the 45 percent top rate of tax.

The planned corporation tax increase, which was set to rise from 19 percent to 25 percent, will be axed.

Stamp duty for homebuyers will also be cut.

In the wake of the announcement, the pound fell to a record low against the dollar. Meanwhile, on Monday morning, borrowing costs reached their highest levels since August 2008.

Meanwhile, the Labour party held a record lead in the polls.

The YouGov poll, based on a survey of 1,712 voters on 28 and 29 September, presented a damning picture for the Conservatives, with Labour taking a 33-point lead.

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