Prime Minister Boris Johnson's Conservative Party said the opposition Labou...
LONDON - Prime Minister Boris Johnson’s Conservative Party said the opposition Labour Party would spend an extra 1.2 trillion pounds over the next five years if it wins power in an election on Dec. 12, British newspapers reported on Saturday.
However, Labour’s would-be finance minister, John McDonnell, dismissed the Conservative estimates as “ludicrous” and a “mish-mash of debunked estimates and bad maths”. McDonnell said in an interview for the Sunday’s Independent that the party’s manifesto would be “the most radical ever” and include a pilot for a universal basic income, and reiterated his desire to block expansion of London’s Heathrow airport.
McDonnell, 68, promised to borrow and spend even more - 400 billion pounds over 10 years. He said interest payments on government borrowing should not exceed 10% of tax revenues.
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