Labour to propose debt cap, helping millions in debt spiral

Labour to propose debt cap, helping millions in debt spiral

Labour to propose debt cap, helping millions in debt spiral

"This government has wasted 15 months not getting us very far".

Carlisle's £67m hospital, which was opened by then Labour Prime Minister Tony Blair in 2000, was the first in the country to be built using PFI funding.

"Profits which are coming out of the budgets of our public services".

Construction and business leaders have questioned shadow chancellor John McDonnell's proposal to scrap private finance initiatives, take all current PFIs "in-house" and potentially nationalise the construction industry if it was to win the next election.

Mr McDonnell told the Labour conference: "The scandal of the Private Finance Initiative, launched by John Major, has resulted in huge long-term costs for taxpayers, whilst handing out enormous profits for some companies".

"'We will deliver the funding for the Midlands Connect, we will overturn decades of neglect in the south West and we will electrify the rail lines all the way through from Cornwall all the way to London once and for all".

The chief secretary to the Treasury, said: "We set up the FCA, which is ensuring credit card firms do more to help customers clear debt and, from January, rip-off charges will be outlawed".

The shadow chancellor said looking ahead, scenario planning and even drafting legislation in preparation for forming a government was all underway.

The letter, which Mr Morgan posted on Facebook, added: "I must apply the same standards to Labour as I would to any other party conference or political event; whilst none of us can control what is said at meetings we do not run, I have to make the strongest possible representation on behalf of the residents of the city who are Jewish".

Labour governments during the 1960s and 1970s came under financial pressure in the markets, leading them to devalue the pound, by lowering the exchange rate, on more than one occasion.

Labour gained 30 seats in June's general election, helping deprive the Conservatives of a majority, and the party says it is preparing for another snap poll.

And IFS director Paul Johnson told BBC2's Daily Politics: "This is not about just getting rid of austerity or moving back to where the last Labour government was".

Eurosceptic MP Suella Fernandes said: Labour are ducking away from debating Brexit, the biggest issue facing our country, because they are too divided on the issue and have no plan.

"Forced nationalisation of large parts of British industry will send investors running for the hills, and puts misplaced nostalgia ahead of progressive vision". Infrastructure investment has many real and tangible benefits for the economy, including jobs growth and improved productivity, so any reduction in long term spending is going to damage the medium and long term prospects for the United Kingdom economy.

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