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Labour have been offered an opportunity to redistribute wealth and help the poorest. Will they take it?

It's not perfect—but the new NEF proposal to scrap the personal allowance and offer a £2,500 payment instead at least prioritises the poorest over middle-class earners. So will John McDonnell go for it?

By Chaminda Jayanetti  

Shadow Chancellor John McDonnell MP. Photo: PA

Politics is about trade-offs—even for Jeremy Corbyn.

One of Labour’s biggest trade-offs at the last election was over welfare spending. By committing to running a balanced budget, making large spending pledges on tuition fees and the NHS, and protecting 95 per cent of people from income tax rises, Labour found itself with insufficient money to pledge to reverse years of savage welfare cuts.

Enter stage left this week the New Economics Foundation (NEF), one of the few think tanks with a close…

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