But she added: "Any new spending must be planned responsibly to be sustainable, and more details will be needed on how both Labour's and the Conservatives' plans will be funded".
Labour's chancellor John McDonnell this day put aside out the birthday celebration's spending knowing admitting that if they recall the election they are going to expand the country's debt - but add to its sources. An irreversible shift in the balance of power and wealth in favour of working people'.
"That means change, it means investment on a scale never seen before in this country - and certainly never seen before in the north and outside of London and the south-east". It requires an irreversible shift in the centre of gravity in political decision-making, as well as investment, from its location exclusively in London to the North and regions and nations of our country'.
Labour will lay out tax and spending plans in its fully costed manifesto, Mr McDonnell talked about.
The Shadow Chancellor said a Labour government would exclude borrowing for investment from its borrowing targets, with rail, energy, water and mail considered along with other public sector assets on the nation's overall financial balance sheet.
The rents on new council homes and electricity produced by public sector energy agencies would be "set against the cost of servicing the debt issued to build them", he said.
He said that due to historic low borrowing rates now was a "responsible time" to invest, but that if costs rise significantly "we would reassess how much we would be willing to borrow for capital projects".
'On this at least there's nothing radical, just common sense'.
"Spent over the first five years of our Labour government, the Social Transformation Fund will begin the urgent task of repairing our social fabric that the Tories (Conservatives) have torn apart", he will say, according to a statement from his office.
There would additionally be a National Transformation Fund unit of the Treasury beneath Labour, he talked about, adding that it'd be based exclusively mostly in the North. The centre of gravity, of political gravity, is intelligent some distance off from London.
"Power is coming home - back to the people".
The IFS said Labour plans to spend an extra £55 billion per year on investment over the next five years, would more than double public investment spending - taking United Kingdom government investment spending from around the bottom of the worldwide league table to around the top.
Mr Javid described Labour's plans as "fantasy economics", but said the Tories would also borrow "some more" to invest in hospitals and railways.