Jeremy Corbyn and Rebecca Long-Bailey can’t agree on price of Labour’s plans
It may or may not be around £60bn...
Jeremy Corbyn has dramatically disagreed with his shadow business secretary over the total cost of Labour’s spending commitments.
Appearing on the Andrew Marr show, Rebecca Long-Bailey discussed at length a long list of spending commitments, estimated by the BBC to cost approximately £60bn.
The shadow business secretary told the presenter that the figure of £63bn was “broadly accurate”.
But 24 hours later, the Labour leader has run a mile from the same figure.
“I don’t recognise the £60bn figure,” Corbyn said when asked about it on Radio 4’s Today programme.
“We would seek to raise taxation income at the top end rather than the bottom end,” he continued.
“But our programme is not complete – I fully concede that. It could not be; we are still working that out. So the figure you gave and you used on the Andrew Marr programme yesterday is not one we recognise.”
Long-Bailey, who is seen as a rising star of the Corbyinite left, was grilled by Marr on Sunday morning about how Labour would fund its spending plans without resorting to extra borrowing.
She insisted Labour would be able to raise £70bn through tax changes rather than the £30bn Marr argued the policies would make.
“It’s inheritance tax, capital gains tax, corporation tax and the cuts to the bank levy which total £70bn by 2020,” she said.