Mcdonnell won’t give answers on spending: there’s an ipad for that
‘That’s why I have advisers’ retorts shadow chancellor when asked to explain his party’s borrowing plans
JOHN MCDONNELL refused to answer questions about figures on Labour’s borrowing plans because MPS have “ipads and advisers” for that, and accused the BBC of “trite journalism” after it asked him for specific figures on his party’s spending plans.
Asked why he had struggled in another interview to give a figure on the cost of servicing the national debt, he told BBC Radio 4’s Today programme: “The type of journalism where you go into an interview and someone asks you a question on a particular figure, to be honest, is a trite form of journalism. That’s why we have ipads, and that’s why I have advisers, etc.”
The shadow chancellor also said borrowing was needed to pay for essential infrastructure such as increased house building.
He said: “What we would do is ensure that day-to-day spending was not paid for by borrowing. It will be paid for through our tax system, and that means stop the tax giveaway to the rich and the corporations.
“We would only invest for our infrastructure and that investment would pay for itself on the basis of the growth that we would achieve on those.
“And that’s a one-to-one return. Because, immediately that infrastructure puts more people back into work, they pay their taxes and as a result of that you are able to cover your costs.”
Questioned on the cost of Labour’s borrowing plans, he insisted it would “pay for itself ” via new tax revenues.
In an interview with Sky News, Mr Mcdonnell also refused to give an answer on how much Labour would pay towards Britain’s Brexit divorce bill, “because the Government itself won’t be open and transparent about what our liabilities are”.
Asked again for a figure, he hit back: “You’re not listening to me, are you?”
A spokesman for Mr Mcdonnell said: “John was very clear that the investment programme Labour has called for would be more than affordable… During the general election, Labour set out our fully costed manifesto underpinned by our Fiscal Credibility Rule and the Institute for Fiscal Studies con- firmed that we would meet the targets set out under our framework.”
Mel Stride MP, Financial Secretary to the Treasury, said: “Labour have a shadow chancellor who doesn’t do numbers – which gets to the heart of why they are not fit to govern. On many occasions this week, John Mcdonnell has demonstrated a lack of economic understanding.”
Sir Vince Cable, the Liberal Democrat leader, said: “It’s worrying that the shadow chancellor hasn’t done his sums. Or perhaps he has done his
‘It’s worrying the shadow chancellor hasn’t done his sums’
sums and he realises they’re so horrendous that he’s unwilling to acknowledge that … a Labour government would put the country into financial difficulties.”