It may sound like common sense,but this platitude has no place in 21st-century economics – as John McDonnell appears to understandSome own called it a U-turn; others own described it as a shambles. But John McDonnell’s volte face was the apt thing to attain, even though it meant losing face, or grand time.
On the eve of the Labour party conference,McDonnell surprised detractors and supporters alike by saying that Labour should vote for George Osborne’s new fiscal charter, which requires the country to run budget surplus in “normal times”. Now McDonnell says his party should vote against it.
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Source: theguardian.com