'An unmitigated tragedy!' Hunt slams Rayner for 'pleasing unions' with SEVENTY burdens on employers

"That's because over the last 14 years we have painstakingly built one of the most flexible labour markets in Europe.

"But Angela Rayner wants 70 new burdens on employers which would turn that job-creating factory into a French-style inflexible Labour market.

"That may sound good to offer full employment rights from day one - and it certainly pleases the unions.

"But if the impact is fewer new jobs, then the impact on young people and families up and down the country will be an unmitigated tragedy."

Hunt insisted Conservative governments have been willing to make “difficult decisions” to put the economy back on its feet, arguing that Labour’s plans risk undoing it.

Delivering his “Labour’s tax rises” speech, the Chancellor said: “Has growth been lower than in more benign periods when we haven’t had similar international shocks? Of course.

“But has that growth been higher than it would have been without Conservative governments prepared to take difficult decisions to put the economy back on its feet after those shocks? Of course, again.”

The Chancellor had earlier opened his speech by saying: “Today I want to dispel two of the biggest myths in British politics.

“Firstly, that our economy is doing worse than other similar countries, and secondly that there is not much difference between the economic policies of the two main parties.”

While the Chancellor promised that taxes would fall if the Conservatives win the next general election, he was unable to provide a “cast-iron guarantee” that taxes will fall under a Tory government regardless of the wider circumstances.

Hunt said he could not “look into a crystal ball and predict what’s going to happen” in the future.

Asked whether he could give a cast-iron guarantee that taxes will fall, he said: “If you’re saying can I look into a crystal ball and predict what is going to happen in the world in the next five or 10 years, and therefore give you a cast-iron guarantee of when we will be able to reduce the tax burden and to what level, the answer is of course I can’t, and it would be irresponsible to do so.”

The Chancellor also said “to her credit” Liz Truss did not “stand in my way” after appointing him as Chancellor following the fallout from her mini-budget.

Asked whether he agreed with Theresa May that the former prime minister’s agenda undermined public confidence in the Conservatives’ economic management, he said: “Mistakes were made and the first thing I did as Chancellor was to reverse those mistakes and I’ve been very open about it.

“To her credit, after appointing me as Chancellor Liz Truss did not stand in my way at all, and she told me very clearly I needed to do what I had to do, and I did.”