Smith’s £200 Billion “New Deal” Pledge Busted by McDonnell

Labour leadership hopeful Owen “Oily” Smith’s £200 billion “British New Deal” pledge, unveiled this weekend, has already been trumped by John McDonnell’s promise today of £500 billion for small businesses. The shadow chancellor announced his plan in pro-Brexit Sunderland to help secure the North-East for Labour. Goodbye prudence hello prolificacy…

owen smith credit card

Both men are deluded. In May alone the UK had a deficit of £9.7 billion – £74.9 billion for the 2015-16 financial year. Smith’s £200 billion pledge would almost double Labour’s record deficit under Gordon Brown in 2009-10 of £154 billion, taking the total to approximately 10.3% of current GDP, and adding another 12.5% to our current £1.6 trillion national debt. The choice for Labour members is between a spendthrift and a squanderer…




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Jo Swinson on Chris Rennard…

“Vince — and Tim before him — have repeatedly, publicly said Rennard is not welcome anywhere near their frontbench team, even as an adviser. I remain deeply frustrated that he was not expelled from the party through its disciplinary process. It just feels wrong, and I do not want Lord Rennard to continue as a member of the party. As far as I am concerned, he is not welcome.”

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