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Lacking sense, not money

CRITICS who say John McDonnell’s vow of “iron discipline” on fiscal policy is a climbdown from his anti-austerity principles are missing the point.

Since his appointment as shadow chancellor, McDonnell has done an excellent job highlighting the hypocrisy of Tory grandstanding over responsible finances.

He was withering in his condemnation of the “mate’s rates” the government agreed with Google on its tax bill and was correct to point out last year that “selling off anything [George Osborne] can lay his hands on” does not amount to a sensible financial strategy.

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