McDonnell Adviser Savages “Silly” Corbyn

Guido readers will know derpy Danny Blanchflower as the economist whose predictions are reliably wrong. Well, for the first time Guido can remember, Blanchflower may have a point. He is currently advising John McDonnell on Labour’s economic policy, and has written a scathing attack on Corbyn and his team in the New Statesman:

“These are early days and the new Labour Party still doesn’t have many economic policies to speak of. The problem is that opposition to austerity on its own is not enough. It is time to start thinking about how Labour can become a credible opposition – and that requires getting real about the economy.

The new Labour leaders are not economists and are going to have to learn fast. They will have to accept the realities of capitalism and modern markets, like it or not. No more silly stuff about companies not being able to pay dividends if they don’t do X or Y. If companies are not allowed to pay dividends, share prices will potentially rise instead. If you raise corporate taxes too high, companies may move to Ireland or elsewhere, where they are lower.”

This is a direct attack on Corbyn’s new policy to ban businesses from distributing dividends unless they agree to certain rules on pay. And an attack on McDonnell’s desire to hike corporation tax. If Labour’s top team are too out there for Danny…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Boris praises statements from Carney and Osborne…

“Clear that Project Fear is now over.”

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Runners & Riders Runners & Riders
Social Media’s Filter Bubble Driving Political Anger Social Media’s Filter Bubble Driving Political Anger
4 a.m. Tom Watson 4 a.m. Tom Watson
Britain Votes For Brexit Britain Votes For Brexit
BBC Declares Brexit Winner BBC Declares Brexit Winner
Guido’s Referendum Best Bits Guido’s Referendum Best Bits
Bob Geldof Boat Passenger Votes Leave Bob Geldof Boat Passenger Votes Leave
Which Brexiteer Are You? Which Brexiteer Are You?
Referendum Day CCHQ Leak Referendum Day CCHQ Leak
Liz Hurley Backs Brexit Liz Hurley Backs Brexit
WHICH REMAINER ARE YOU? WHICH REMAINER ARE YOU?
EU TO OPEN NEW TURKEY MEMBERSHIP TALKS ON JUNE 30 EU TO OPEN NEW TURKEY MEMBERSHIP TALKS ON JUNE 30
GERMAN BUSINESS CHIEF CALLS POSSIBILITY OF POST-BREXIT BARRIERS “VERY, VERY FOOLISH” GERMAN BUSINESS CHIEF CALLS POSSIBILITY OF POST-BREXIT BARRIERS “VERY, VERY FOOLISH”
PROJECT SNEER: LUVVIES SAY LEAVERS ARE ‘THICK IDIOTS’ PROJECT SNEER: LUVVIES SAY LEAVERS ARE ‘THICK IDIOTS’
TURKEY “FLABBERGASTED” BY CAMERON: “HE’S OUR BIGGEST SUPPORTER!” TURKEY “FLABBERGASTED” BY CAMERON: “HE’S OUR BIGGEST SUPPORTER!”
BORIS LOOKS FORWARD TO INDEPENDENCE DAY BORIS LOOKS FORWARD TO INDEPENDENCE DAY
HESELTINE: UK WILL JOIN EURO IF WE REMAIN HESELTINE: UK WILL JOIN EURO IF WE REMAIN
Sadiq “EU Should Not Be a Christian Club” Sadiq “EU Should Not Be a Christian Club”
“REST IN POWER”: CORPORATE SPIN DOCTORS TAKE CONTROL OF COX IMAGE “REST IN POWER”: CORPORATE SPIN DOCTORS TAKE CONTROL OF COX IMAGE