Labour pledge 'irreversible shift in power in favour of working people'

Britain's Chancellor of the Exchequer Sajid Javid is seen outside Downing Street in Lond

Britain's two main parties promised billions of pounds of investment for hospitals, schools and infrastructure on Thursday as they seek to woo voters tired of austerity ahead of next month's election.

McDonnell said in a speech that government debt would rise but a higher investment would boost public assets and strengthen the public sector.

However his Conservative counterpart Sajid Javid will accuse Mr McDonnell and Jeremy Corbyn of behaving like "anti-vaxxers" on the economy.

Both Javid, from the ruling Conservatives, and McDonnell will travel to the north of England to make their pitches, eyeing seats where many voters feel they have been squeezed by investment cuts and decades of deindustrialisation.

The IFS said Labour plans to spend an extra £55 billion per year on investment over the next five years, would more than double public investment spending - taking United Kingdom government investment spending from around the bottom of the global league table to around the top.

Labour has already pledged to invest another 250 billion pounds in capital projects over the next 10 years, financed by selling bonds, to stimulate growth and make the economy greener.

Mr McDonnell told an audience in Liverpool: 'Our aim as a Labour government is to achieve what past Labour governments have aspired to.

The rents on new council homes and electricity produced by public sector energy agencies would be "set against the cost of servicing the debt issued to build them", he said.

Local freebies, deals, discounts for Veterans Day 2019
They will also offer a 20 percent discount from November 8 - Nov. 11 for all military, police, firefighters and first responders. Carabbas - All veterans, active duty military, and first responders receive a free calamari - and 10% off on all future visits.

The poll Johnson called to try to break parliamentary deadlock over Brexit is shaping up to be a contest between two parties more than willing to break with years of economic austerity imposed since the Conservatives took power in 2010.

"After a decade of recovery, of hard decisions, we can't let Labour turn back the clock, let spending get out of control and make hardworking families pay the price".

"They'll ruin your finances, they will raise your taxes and they will saddle the next generation with debt", the Conservative minister said.

With Britons due to vote on December 12, the main parties are drawing up battle lines: Prime Minister Boris Johnson says he alone can deliver Brexit, while Labour leader Jeremy Corbyn says only his policies offer real change. McDonnell once brandished a copy of Chinese Communist leader Mao Zedong's "Little Red book" in parliament and suggested the government heed its advice.

Syed Kamall, Academic and Research Director at the Institute of Economic Affairs, said: "Today's election speeches show both parties have abandoned fiscal restraint in favour of increases in public spending to be paid for through extra borrowing".

With that in mind, both parties are promising to end the era of cuts and undertake huge infrastructure investment programmes if they win power on December 12.

There would additionally be a National Transformation Fund unit of the Treasury beneath Labour, he talked about, adding that it'd be based exclusively mostly in the North.

Related News:

  • Jeff Sessions Expected To Announce Run For His Old Senate Seat

    Jeff Sessions Expected To Announce Run For His Old Senate Seat

    Ken Brown, a 77-year-old retired Air Force colonel from Cullman County, has supported Sessions in the past, but won't this time. South Carolina GOP Senator Lindsey Graham said Sessions was a "great senator" but was not getting into Alabama politics.
    Call of Duty: Modern Warfare reveals new maps and game mode

    Call of Duty: Modern Warfare reveals new maps and game mode

    Sounds a lot more like a shotgun now, even though I will definitely continue to use it for toilet camping in Gun Runner. Fixed an issue where the throwing knife and Thermite weren't causing the shield to go on the player's back when thrown.
    Disney+ launch date for Ireland finally announced

    Disney+ launch date for Ireland finally announced

    Programmers and distributors blame each other for being too lenient in how many people can simultaneously stream from one account. The new Disney streaming service will launch on devices from Apple, Google, Microsoft, Roku, and Sony.
  • Instagram CEO Says the Platform Will Test Hiding 'Likes' Starting Next Week

    Instagram CEO Says the Platform Will Test Hiding 'Likes' Starting Next Week

    But the changes could also be a blow to smaller influencers who relied on large numbers of likes to attract brand deals. So far, Instagram has been testing hidden like counts in seven countries, including Brazil, Canada, Japan, and others.
    Helen Mirren: Flattering to be mistaken as Keanu Reeves’ girlfriend

    Helen Mirren: Flattering to be mistaken as Keanu Reeves’ girlfriend

    When asked about Keanu, she said that she knows him very well as he did a film with her husband. May 15, 2019. "Which I also would have supported".
    Bettman: NHL set to return to Europe

    Bettman: NHL set to return to Europe

    The exact date of the game will be announced once next season's schedule is released, but it will be played at the O2 Arena. Boston will open the 2020-21 season in Prague against the Nashville Predators .
  • Jurgen Klopp reassures Manchester City over Anfield bus fears

    Jurgen Klopp reassures Manchester City over Anfield bus fears

    Jurgen Klopp's men now hold a six-point lead over the defending champions after 11 games, having not lost a match so far. That's completely different", said Klopp on the previous attack on City's bus.
    Wenger to discuss return to management with Munich

    Wenger to discuss return to management with Munich

    The German champions are looking for a new manager after they sacked Niko Kovac on Sunday, following a 5-1 defeat by Eintracht Frankfurt .
    The world's billionaires lost a total of US$388 billion in 2018

    The world's billionaires lost a total of US$388 billion in 2018

    Four out of ten self-made billionaires in 2018 are setting up companies in the consumer goods and retail sectors. Billionaires in the tech industry saw the greatest growth compared to any other sector past year .
  • Gap CEO Art Peck to step down amid falling sales

    Gap CEO Art Peck to step down amid falling sales

    In August, its Banana Republic division, following other clothing competitors, began launching an online subscription service. Robert Fisher, Gap's non-executive chairman of the board, will take Peck's place until a permanent CEO is named.

    Details of Chase Young's NCAA violation emerge with girlfriend twist

    That would mean he'd be out for PSU's trip to Ohio Stadium on November 23 and also games against Maryland, Rutgers, and MI . They don't care about them kids at all. "Only about how they can make them money", James wrote on Twitter.
    Congolese 'Terminator' warlord given 30-year sentence

    Congolese 'Terminator' warlord given 30-year sentence

    However, this is not limited to Africa , as Russia, China and the United States also do not recognise the court's jurisdiction. Ntaganda was also responsible for the rape and sexual slavery of underage girls, and of recruiting troops under the age of 15.


Most liked

As House prepares for public impeachment hearings, Republicans want whistleblower to testify
That means, essentially, that Schiff has sole power over who will testify during the public hearings. That Trump had reason to be concerned about Ukrainian meddling in the 2016 election.

Trump soaks in Deep South cheers at college football matchup
But whether their legacy together includes a championship could depend on the committee's choice next month. But LSU ran out the clock after that thanks to a bulldozing run by none other than Edwards-Helaire.

Germany, allies mark 30 years since the fall of the Berlin Wall
Steinmeier said, however, that the historic event did not mark the "end of history" as USA historian Francis Fukuyama stated. German President Frank-Walter Steinmeier will maintain a speech.

Death Stranding coming to Steam, isn't Epic Store exclusive
If at some point there will be indeed a Death Stranding DLC expansion, we'll definitely let you know. Furthermore, there will be appearances by Guillermo del Toro, Conan O'Brien and Geoff Keighley.

Democratic wins and what they mean for Trump: key election takeaways
Bevin claimed his opponent was "in line with Bernie Sanders" and "spreading his hateful class warfare and communist ideology". And, while the president is wildly popular in the state, surveys pegged Bevin as the least popular governor in the country.

Moto G8 leaked promo images, video hint at imminent launch
Also Read: Moto G8 Plus review: Is the new Moto G phone worth the asking price? As of now, not much is known about the smartphone. We do not have any detail about the hardware yet so it'll be interesting to see which processor picks for this smartphone.

Sonny Bill Williams moves to Toronto Wolfpack, signing two-year contract
He is rugby's LeBron James and we see his recruitment as bigger than when David Beckham joined LA Galaxy. He has thanked all those fans in New Zealand and around the world who have supported him.

Sinner beats Ymer to reach Next Gen semifinals
I didn't feel so well in the beginning and he was playing very good, very aggressive". " I think I've done a great job ". But don't tell De Minaur he is the favourite ahead of his second Next Gen ATP Finals title match.

Kanye West may change name to 'Christian Genius Billionaire Kanye West'
Kanye West received a ton of praise and support regarding his conversion to Christianity during a segment of Fox & Friends . Kanye also became an outspoken born-again Christian recently and released a curse word-free album called " Jesus is King ".

Police outside Bolivia's presidential palace abandon posts
Tensions first flared on the night of the presidential election after the results count was inexplicably paused for 24 hours. Neither Camacho nor Mesa say they will accept the results because they were not properly consulted about the process.

Video of original iPhone Vs iPhone 11 Pro gives us serious nostalgia
The early Black Friday deals are available at Target .com now through Saturday, Nov. 9, at 11:59 p.m. On a busy shopping day like Black Friday, don't expect to get any Apple Black Friday price matching.

5th-Seeded Nittany Lions Move To Big Ten Semifinals
Most of those were to Bateman, who made seven scene-stealing catches for 203 yards and a touchdown. BEST PASS Minnesota quarterback Tanner Morgan wasn't the story coming into the game.

China court sends 9 to prison for smuggling opioids into U.S.
A Chinese man was convicted and sentenced to death for trafficking fentanyl to the United States, The New York Times reports. US officials have reportedly moved to link Beijing's efforts on fentanyl to USA trade talks.

Vietnamese boys among UK truck victims
Several arrests have been made in Britain, Northern Ireland and Vietnam in connection with the deaths. Police say the Vietnamese and British governments are now working on repatriating the bodies.

'OK, boomer': New Zealand lawmaker shuts down older member who mocked age
Mr Muller, on the other hand, wondered how long Ms Swarbrick would remain a "millennial force for change". New Zealand legislator Christopher Bishop expressed "unwelcome and unawake opinions " in the tweet.