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Labour's renationalisition plans set to cost billions

October 14, 2019 8:49 PM

The Labour party plans a mass nationalisation programme if it gets into government but in an article reported in the media today the Confederation of British Industry estimates the cost of Labour's renationalisation plans to be £196 billion. These estimates only include nationalisation at Labours party conference under the guise of a climate motion, it was proposed that the Labour party would in government buy equity stakes in Car Manufacturers (a further £3 billion) and in a 51% stake in an Off-Shore wind public-private partnership, in order to deliver Off-Shore Wind turbines that the private sector could deliver more effectively.

Read more from the BBC at https://www.bbc.co.uk/news/business-50036463.

Responding to this Liberal Democrat MP Chuka Umunna said:

"The Tories are pursuing an ideological hard Brexit, depriving the Exchequer of much needed revenue, whilst Labour plans to do the same with a Labour Brexit in addition to spending billions of pounds with no idea how they will pay for it.

"The only sensible alternative to these two broken parties is to stop Brexit and use the resulting Remain bonus to invest in people and public services - the Liberal Democrat choice."