Jeremy Corbyn's plans to hike pay for public sector workers would slap Britain with a £9billion bill, new analysis reveals.
The Labour Party has promised to go on a public sector spending splurge if they are elected into No 10 on June 8.
Their manifesto has promised to lift the one per cent public sector pay cap - which has helped bring spending under control since it was introduced.
Jeremy Corbyn, pictured today during a campaign visit to Peterborough United football club, wants to increase wages for public sector workers in a move that could cost £9billion
The respected Institute for Fiscal Studies (IFS) said the plan would would cost an eye-watering £9.2billion a year - with £2.9billion going on NHS staff alone.
Theresa May has plans to keep the pay cap until 2020 as she commits to tackling the deficit and bringing Britain's public spending under control.
Jonathan Cribb, senior research economist at the IFS, said: 'Labour's plans to return to the recommendations of Pay Review Bodies would boost public sector pay but require significant extra resources - around £9 billion per year in 2021-22 - for government departments to pay for the higher wage costs, unless departments make cuts elsewhere.'
He also warned that plans put forward by the Lib Dems to lift pay in line with inflation would come with a hefty price tag of £5.3 billion a year.
Theresa May, pictured in Edinburgh today at the launch of the Scottish Tory Party's manifesto, will keep the one per cent pay cap for public sector workers
Mr Corbyn announced plans to slap Britain with a £50billion tax bombshell to bankroll his lavish public sector spending.
His manifesto - described by experts as perhaps the most left-wing plan Britain has ever seen - also wants to renationalise rail, water and energy firms and introduce Soviet-style wage caps.
The PM took a swipe at his spending plans as she unveiled her own manifesto yesterday, promising voters she will not shy away from making 'hard choices' to turn the country into a 'great meritocracy'.
In return, her tough-love manifesto promised a 'new contract' that would expand opportunity more widely, end the domination of elites, and ease the impact of mass immigration.