George Osborne has warned that every child in Britain is born owing £17,000 because of Labour’s Debt Crisis.
Under Labour, Britain’s national debt is set to double to over one trillion pounds in just five years – and the Shadow Chancellor stressed all this borrowing will have to be paid back.
“Britain’s debt burden will not be paid off by unspecified people at an unspecified date. It will be paid by us and by our children. It means families will have to work longer. It means, if Labour get their way, we will all pay higher taxes.”
Speaking at the launch of a nationwide campaign highlighting Labour’s Debt Crisis, George said Britain faces a “grim future” thanks to Labour’s borrowing:
“Families are facing a bill of more than £2,000 just to pay the interest on Labour’s debt. Our country will have to spend more on paying off the interest on the debt than on almost anything else. More than on the police. More than on prisons. More than on schools.”
He stressed the country faced a clear choice between irresponsibility under Labour and responsibility under the Conservatives.
And he said, “The desire to give your children a better future is one of the most basic and most powerful human instincts of all. Yet every child in Britain is born owing £17,000 because of Labour’s Debt Crisis. They deserve better.”
David Cameron reiterated the dangers of Labour's borrowing binge in his speech, stressing, “We’ve got to stop this Government before they bankrupt our economy and bankrupt our children’s future.”
Our nationwide advertising campaign highlights the human consequences of Labour’s Debt Crisis. The poster shows a four-week old baby with the line ‘Dad’s Nose. Mum’s Eyes. Gordon Brown’s Debt’.
There are also two online films, which you can view below.
Read David's full speech from the launch
Download the Labour's Debt Crisis report (PDF)