John Healey accused of planning to bludgeon Britons with £1,700 tax rises to fill ‘£49billion black hole’

But the Conservatives have now warned Labour will be forced to raise taxes by £1,700 per household per year by 2030-31 to splurge on unfunded spending promises, The Telegraph revealed.

Writing for the paper, the North West Essex MP said: “The worst is yet to come.

“Alongside Labour’s current plans, expensive proposals like a National Care Service and more council housing create a £49billion black hole at the heart of the public finances after this Budget.

“Who’s going to pay for it? The Prime Minister gave the game away on Friday when he said he would have written the 2024 manifesto differently.

“Let me translate that. He wishes he had more room to raise taxes even further. To fund their promises and appease their MPs, Labour are going to have to raise taxes by £1,700 for every household.”

Mrs Badenoch further laid into the Chancellor for refusing to set out defence spending plans, estimating a £11billion shortfall across 2030/2031.

Instead, Mr Healey said the Government would lay out the path to pouring more funds into Britain’s Armed Forces at the next spending review in spring.

The Tory leader also said Andy Burnham’s National Care Service would come at the hefty price of £17billion, demanding department cuts to pay for the taxpayer-funded scheme.

The Prime Minister said the care service would be funded through changes to the state pension from April 2030.

Mrs Badenoch also stressed another £4billion will have to be set aside for the Government council house programme, bringing the “colossal black hole” to £49billion.

Meanwhile, Mr Burnham has repeatedly refused to make “crude cuts” to welfare spending despite Britain’s benefits bill being on course to reach £431.3billion by 2031-32.

Rather than tackling the growing welfare bill in the Treasury now, Mr Healey delayed the Labour’s promised overhaul until next year.

To fund cost-of-living support, the Chancellor targeted banks, bookmakers, landlords and savers.

And, while Mr Healey honoured Labour’s manifesto commitment not to raise headline rates of income tax, national insurance or VAT, frozen income tax thresholds will drag hundreds of thousands of workers into higher bands.

“Next year, under Labour, the tax burden will be the highest in our country’s history and our benefits bill is going up by tens of billions of pounds because this Government has put welfare first,” Mrs Badenoch told the Commons.

Mrs Badenoch added: “We are overspent, over-borrowed, overtaxed and drowning in an out-of-control welfare system.”

Hitting back at the Tories’ latest round of accusations, a Treasury spokesman branded their claims as “fiction”.

“The Budget meets our fiscal rules, fully funds our defence investment plan and puts borrowing on a clear downward path,” they added.

“This Government has a consistent track record of meeting these targets, and it’s through careful management of the public finances that we’ve been able to give Britain breathing space on the cost of living and cost of business.”