Industry raises doubts over Labour's PFI plans

No Brexit vote at Labour conference is GOOD for democracy, claims Emily Thornberry

Industry raises doubts over Labour's PFI plans

The party's plan to end austerity, nationalise industries and borrow to invest in public services captured the imagination of voters and reduced May to a minority government. They did not give an estimated cost for the policy.

"The shadow chancellor's suggestion of nationalising the construction industry is potentially a commitment to further wholesale inefficiencies unless it is also proposing a "root and branch" modernisation of the basic construction delivery model, which it appears is not the case".

Asked whether he had got to grips with a series of anti-Semitism controversies that have dogged Labour under his two-year leadership of the party, Mr Corbyn said: "We're a party that is active in all parts of the country and all communities". PFI contracts use private funding to pay for big infrastructure projects like building hospitals or schools as a way of keeping debts off the government's balance sheet.

Meanwhile the FCA confirmed in July it was maintaining a cap on the fees charged on high-cost short-term credit - or "payday loans" - after finding the cap had benefited consumers.

Business was critical of the approach.

She warned that a "nationalisation agenda" with doubts over whether there would be a "market rate" paid, state interventions on wage levels and rising corporation tax would all have a "chilling effect" on investment.

But these huge costs have since been widely blamed for contributing to financial problems in the local NHS.

Jeremy Newark, JLM's chair, told Sky News: "They allowed their meeting to become an arena for what effectively mounts to a call for Jews and Jewish groups to be purged from the party".

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.

John McDonnell will announce plans on Monday for a cap on interest payments, protecting those trapped in a spiral of credit card debt.

The regulator was so anxious that in April it proposed new regulations to force companies to stop persistent debt spiralling.

"It means that no-one will ever pay more in interest than their original loan", McDonnell said. "They pay about £2.50 in interest and charges for every £1 borrowed", said the FCA, according to The Guardian.

McDonnell, who once listed "generally fomenting the overthrow of capitalism" among his interests in the Who's Who directory of influential people, also took aim at the wealthy, bankers and large corporations.

Chief secretary to the treasury, Liz Truss, said that Mr McDonnell's plans would add billions of pounds to the £253 billion of spending promises already racked up by Labour since the launch of its manifesto.

While the Tories remain stuck in the language and values of the Victorian era, we are determined that Britain embraces the possibilities of technological change - scary though they may be.

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