The MoneySavingExpert.com founder appeared on ITV's Good Morning Britain today, where he explained what could happen next after Labour secured a landslide victory against the Tories
Money saving expert Martin Lewis has shared his thoughts on the Labour Party 's General Election victory and its potential impact on personal finances.
He then predicted that any forthcoming changes will need to be cost-effective for the Government. Martin stated: "What I expect is going to happen in the next couple of weeks, is Labour will get fully into Government and do some form of revelation, saying: 'Wow, the finances are so much worse than we expected, there's a big economic black hole, things are going to be very tough,' and then do some expectation management.
"But they're going to have to do it in a way that, where unless it was preannounced in the manifesto, it doesn't cost." Martin commented: "They've said they wont raise taxes, they've also said they wont substantially cut spending, they've also said they wont increase government borrowing and they're not planning on printing money, so that is, all four of your hands tied behind your back.
"One commitment in the manifesto is the pledge to construct 1.5million homes over the next five years by reforming planning rules and developing poor-quality areas in the green belt." Martin added: "Let's see if they can deliver that one. They're also talking about finally banning Section 21 'no fault' evictions.
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