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Liz Truss witnessed economic chaos during her 49 days as Prime Minister.

Liz Truss witnessed economic chaos during her 49 days as Prime Minister. Finnbarr Webster via Getty Images

Wes Streeting has described the Tories’ plans for tax cuts as “Liz Truss’s mini-Budget on steroids” as both parties prepare to publish their election manifestos.

The Conservatives will present their promises to voters later today, including a further two pence cut in national insurance contributions.

Work and Pensions Minister Mel Stride also hinted this morning that the plan would include further promises to cut taxes.

He told BBC Breakfast: “I can’t give you all the details, I can’t wait, but the further tax cuts under this government are exciting, significant and important because we have a clear plan for where we want to take the economy.”

But speaking to the same programme, Shadow Health Secretary Streeting said: “I would urge people to look very carefully at this enormous and desperate attempt to buy votes in this election with a whole series of unfunded spending commitments and tax cuts.”

“This is Liz Truss’s mini-budget on steroids and we have seen the damage unfunded, unaccounted spending commitments do to people’s bills. This is the big fiscal bomb waiting for us if the Conservatives get a fifth term in office.”

Streeting said Labour could not keep the Tories’ promise to cut national insurance contributions by a further two pence “because the money is simply not there”.

He added: “I think Rishi Sunak should tell people the truth that the money is simply not there.

“I think he thinks people are stupid. They see that Conservative Prime Ministers and Chancellors of the Exchequer have repeatedly brought in social security to pay the price for their economic recklessness and vandalism.

“When you look at the state of their campaign and their spending commitments, the sheer desperation is clear. Re-electing these fortune hunters would be like giving the matches back to the arsonist and saying, ‘Go finish the job.'”

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