McDonnell claims re-nationalisation will cost nothing, CPS responds

In an interview with The Andrew Marr Show, Labour Shadow Chancellor John McDonnell claimed his party’s re-nationalisation plans wouldn’t cost the taxpayer a penny, Sunday 28 October 2018.

Despite Marr pushing McDonnell with the £176billion figure – what the CPS calculated back in January Labour’s plans would cost – McDonnell repeated his previous claims that the taxpayer would not face any financial burden.

The interview was also reported in several newspapers:

In response, Robert Colvile, CPS Director, spoke to Clive Bull’s LBC radio show and explained how our report looked in detail at Labour’s plans and came up with the conservative figure required for upfront borrowing of £176bn.

‘The Cost of Nationalisation’ is available to download from the CPS website.

Date Added: Sunday 28th October 2018