Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

John McDonnell slammed for refusing to cost Labour's nationalisation plans

http://www.cityam.com/276044/john-mc...g-cost-labours

"Speaking on the BBC's Andrew Marr show, the firebrand shadow chancellor said "you don't need a number" for the cost of nationalising firms because the companies' subsequent profits would pay for the initial borrowing cost incurred."

"Chief secretary to the Treasury Liz Truss slammed McDonnell's plans, saying that his "borrowing binge" meant Labour was not fit to form a government.

"No wonder Labour are preparing for a run on the pound," she said. "Labour's costs would spiral out of control, meaning more debt and higher taxes - with working people paying the price."

"The Labour party is committed to nationalising the UK's water companies, railways, the Royal Mail and the National Grid. The total market value of the sectors and services identified for nationalisation is estimated to be around £170bn."

"Alex Wild, research director at the Taxpayer's Alliance, said it was hard to know if McDonnell was "pathologically dishonest or breathtakingly ignorant".

"Not paying market rate for any shares in these companies would be theft from anyone who's had the temerity to save into a private sector pension, but this is apparently of little concern to McDonnell who can look forward to a gold-plated, taxpayer-funded pension when he retires," Wild said.

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

As I have previously argued, it can be 'NATIONALISED WITHOUT COMPENSATION!!!

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

Hi

Yep, quite right UJ, they can be.

The results would be devastating for the economy however.

We need to borrow Billions a year now, nobody would lend to us.

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

And as the article states, that would amount to total theft by the government.

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

Didn't those scumbag 'nasty party' barstewards do that back in the 1980s when that evil witch thatcher (phth, phth, phth) privatised and then sold off to her cronies at knock down prices all our utility services, plus British Telecom, British Airways, British Rail etc, etc.

All re-nationalisation of all those industries is merely taking back into public ownership all that the evil witch stole from us in the first place.

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

Like the rest if your "comrades" you really are a complete economic illiterate, and driven by a pathological hatred of someone who is generally regarded as one of the best Prime Ministers this country has ever had.

A bit pathetic really....

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

Another anti Semitic tale from Labour

https://order-order.com/2017/11/29/l...emitism-probe/
Is there anyone in the Labour Party that isn’t anti Semitic and pro terrorism?

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

As Barry says, you are economically illerate. Actually I think he's being kind, I'd say a blithering idiot !

Those companies which have now been in place for years are now institutional investment companies. That means that real people, including ordinary folk, working class folk, and ranging all the way up to huge investment companies managing the pension schemes for millions of people, have all long since invested in those companies.

If sick Looney "Jezbollah" Corbyn re nationalises them all on the cheap without paying the market rate for the shares of those companies, then all those people, all those investors have their investment money wiped out over night.

The article did make that clear I thought but as ever you tend not to bother reading posted articles and simply brain fart out uninformed opinions.

It would amount to common theft by the Looney government on an industrial scale.

It can not, and must not be permitted to happen.

Old Compo and his dimwit socialist chums are a bunch of fantasy economics dreamers who have not one iota what things cost nor how they would go about paying for them.

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

McDonnell would be a complete fool if he started mentioning the sums involved now - firstly because it is more or less impossible to second guess the market so far in advance and with a disastrous brexit coming, which will have an unpredictable effect, making the prediction even less possible. Secondly, regardless of how many caveats McDonnell might include in any predictions, any amounts mentioned would be taken as absolute plans, totally unchangeable, by the boneheaded, intelligence-suspended Tories and used as a stick to beat Labour with, eagerly joined by the Right-wing propaganda sheets, of course, as soon as there is any deviation from those figures.
Nationalisation need not be that expensive. For example, unless it has changed, the plan for rail nationalisation is to take over franchises as they expire, meaning no compensation necessary.

Re: Labour's McDonnell Slammed For Refusing To Cost Nationalisation Plans

If it is currently impossible to cost the re-nationalisation of these industries, why then is the duplicitous "Jezbollah" Corbyn promising the he can/will do it?

This is clearly more of the usual sleight of hand weasel politics that this Looney Party persistently engages in.

Just as per the utterly despicable duping of the students with vapourware promises that were not at all costed, so too will "Jezbollah" continue making totally unsubstantiated, un-costed, undeliverable promises to get votes.

It's really lame.

Corbyn should either cost his re-nationalisation plans, tell the nation what those costs are and where the money would come from or . . . .

Just STFU.