Conservatives Attack Labour Spending Plans: U.K. Campaign Trail

(Bloomberg) --

Boris Johnson’s ruling Conservatives are trying to turn the focus of the election campaign to one of their strongest suits: The economy.

They will hope to capitalize on data due Monday that are expected to show a return to growth in the third quarter. On Sunday, Chancellor of the Exchequer Sajid Javid said Labour would cost the U.K. 1.2 trillion pounds ($1.5 trillion) in extra expenditure, publishing a 36-page dossier on opposition proposals. His Labour counterpart, John McDonnell called the analysis “fake news.”

Must Read: U.K. Tories Switch Focus to Economy, Attack Labour’s Spending

Coming up:

• A first estimate of third-quarter gross domestic product is set to be released by the U.K. Office for National Statistics at 9:30 a.m.
• Both the Tories and Labour announce policies on Armistice Day to help the armed forces. Corbyn is pledging fair pay and decent housing. Johnson, who’ll be in the West Midlands, is offering childcare as well as incentives for employers to hire ex-soldiers. Johnson will also offer legal protection to veterans, the Telegraph says.
• Liberal Democrat business spokesman Sam Gyimah will be touting his party’s new “skills wallet” providing citizens with 10,000 pounds of grants to spend on training.
• Brexit Party Leader Nigel Farage launches his party’s campaign in Hartlepool.

The Polls:

• An Opinium poll put the Conservatives on 41%, Labour on 29%, the Liberal Democrats on 15% and the Brexit Party on 6%.
• A Deltapoll survey for the Mail on Sunday has the same result for the Tories, Labour and the Brexit Party, with the Lib Dems on 16%.
• A YouGov poll in the Sunday Times puts the Tories on 39%, Labour on 26%, the Lib Dems on 17% and the Brexit Party on 10%.
• A BMG survey for the Independent on Sunday puts the Tories on 37%, Labour on 29%, the Liberal Democrats on 16% and the Brexit Party on 9%.
• Here’s a summary of recent polls.

Catching Up:

• U.K. Outlook Cut to Negative by Moody’s on Policy ‘Paralysis’
• Which Political Party Has the Best Track Record for U.K. Stocks?
• Tories Get Nervous as Chaos Hits Johnson’s U.K. Election Train
• Britain’s Election Gamble -- What You Need to Know: QuickTake
• Pollster John Curtice examines Farage’s impact in a piece in the Telegraph
• Allies of Farage and Johnson held talks about a possible electoral pact, the Mail on Sunday reported

The Markets:

• The pound extended its losses late Friday after Moody’s placed the U.K.’s sovereign credit rating on negative outlook. But it’s unlikely to drop much further whatever the outcome of the election, according to a Bloomberg survey.
• Sterling edged higher early on Monday

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editors responsible for this story: Tim Ross at tross54@bloomberg.net, Emma Ross-Thomas

©2019 Bloomberg L.P.