NO NEED FOR FEAR18 Nov 2019 17:07
I think my colleague Paul Summers has nicely summed up the reasons not to be afraid. In short, even if Labour were to win the forthcoming election, the cost of its lofty ambition would likely be way higher than the £20b figure that the party seems to have plucked out of the air. As Paul pointed out, BT chief executive Philip Jansen has put the likely cost at around £100b.
The other key point is that the timescale is likely to prove prohibitive. I reckon the 10 years they’re talking about is a big underestimate, and I rate the chances of Jeremy Corbyn being PM for long enough to even get close to achieving it are close to zero.
Do you remember when David Miliband was heading the Labour party and had far less ambitious nationalisation ideas? What, you don’t even remember who he is? Radical election promises come and go, and business just carries on.