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Criticisms of Labour’s spending plans are strangely disconnected from economic reality

The question is not are they too radical but are they radical enough

By Shreya Nanda  

Shadow Chancellor John McDonnell. Photo: Kirsty O'Connor/PA Wire/PA Images

When Labour announced its spending plans they were immediately called “not credible.” They comprised an additional £80bn in day-to-day spending and £55bn in investment; and subsequently a further £12bn for WASPI pension compensation.

These plans have faced three major criticisms, primarily from the well-respected Institute for Fiscal Studies: that their cost is unfeasibly high; that they cannot be funded without further tax rises; and that Labour is trying to do things too quickly.

All the parties’ plans should be properly…

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