John McDonnell LOSES it in live interview as he’s challenged on Labour spending
JOHN MCDONNELL lost his cool in a live interview over Labour spending figures as he struggled to answer how he would deal with UK debt.
The Labour party shadow chancellor struggled with his composure as he tried to explain how investment in infrastructure would “pay for itself” in the long term.
Asked what the party’s plan was to tackle debt and the day-to-day deficit over a five-year timeframe, temperatures rose as Mr McDonnell spoke over Sky News presenter Niall Paterson.
Speaking on Sunday with Niall Paterson on Sky News, Mr McDonnell got defensive when trying to give examples of how Labour spending would benefit the economy.
Discussing rail investment, he said: “Crossrail for the north, £10 billion. Calculated, not by us, but independently, that would gain something like £90 billion investment in that region. That’s the sort of investment we’re going for.
“Investment wisely chosen that get a return, pay for themselves in the long run but stimulate the economy and distribute resource around people."
SKY NEWS
I didn’t challenge you on that point
Paterson probed further into the party's proposals.
He said: "In the long run, isn't your plan to get rid of the deficit on day-to-day by the end of the five years and what's the plan for debt?"
Mr McDonnell replied Labour would be targeting the "debt to GDP ratio" and cut across a bewildered Paterson as he said it had the backing of the Institute For Fiscal Studies.
He said: “What we’re saying is the debt to GDP ratio, which is the important one, that tells you where you can pay for it, will be down within the life of a Parliament.
“That was tested by the IFS.”
A baffled Paterson responded to the outburst.
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He said: “I didn’t challenge you on that point.”
Last month, a top Corbynista claimed many businesses supported the shadow chancellor’s budgetary plans – but failed to name a single firm during an awkward interview.
Speaking to talkRADIO, Peter Dowd, Labour MP for Bootle, claimed a number of businesses had offered their support to Mr McDonnell and Labour’s plan for the economy.
Mr McDonnell also came under pressure after he refused to answer a question on key economic figures – instead claiming the figures were on his iPad.
He used the bizarre excuse when asked how much it would cost to service Government debt, during a painful interview with BBC Radio 4's Today programme.
