Jolyon Maugham

Corbynomics and the magic money trees

First published on Progressonline

The spending side of Corbynomics – set out in his manifesto The Economy in 2020 – with its promises of renationalisation of the railways, the energy companies and even the banking and financial services sectors, has received deserved scrutiny. Less so the question where the money to fund it has come from.

Such attention as there has been has focused on so-called ‘people’s quantitative easing’ which Robert Peston identified as carrying the possibility of ‘devastatingly inflationary consequences’ in a hardhitting blogpost of yesterday. (more…)