UK FACT CHECK POLITICS
UK FACT CHECK POLITICS
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QUOTE From: Budget 2026 live: Latest updates, analysis and fact checks

Tories say they would find £70bn of savings and vote against Budget tax rises

The Conservatives will vote against several of the Budget's tax rises, Nation.Cymru reports. These include the rise in alcohol duty in line with inflation and the temporary extra 3% on the bank surcharge.

Nation.Cymru describes the bank surcharge as currently 3% on top of 25% corporation tax. It reports that the Commons debate on the Budget is due to hold its fourth and final day today.

The shadow chancellor, Andrew Griffith, says the Conservatives would make £70bn of savings instead, with more than half coming from cutting welfare. Nation.Cymru quotes him as saying:

"Instead, we will make £70 billion in savings, with more than half coming from cutting welfare, so we can cut taxes, cut the deficit and give our armed forces the resources they need."

The £70bn figure and the share from welfare are the Conservatives' own claims and have not been independently checked. The report does not say over what period the savings would be made or how they have been costed.

Griffith also says "Healey's Budget will take the tax burden to a historic high". Full Fact has found that comparable records only start in 1948/49, so any record can only be measured against the years since then.

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