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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Councillor John Thomas, Keith Vaz’s Leicester East Constituency Labour Party Chairman says…

“This is great disappointment to me, realising that I have spent over 30 years of my life working for a party that I now know that I have nothing in common with. This is not the party I joined, the party for decent working people. I can no longer follow the clown that leads the Labour Party, he is heavily influenced by the Trotskyite Len McCluskey and is now as the Hoki Coki leader, in out, and shake it all about he has turned this great party into a laughing stock.”

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