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McDonnell vows fight for fiscal credibility

JOHN McDONNELL admitted last night that his task of restoring Labour’s economic credibility was the “most important fight in a generation,” writes Luke James.

In a lecture at the London School of Economics, he said that Labour was committed to “bringing the government’s dayto-day spending into balance.”

But he argued that this would not stop a Labour government borrowing to invest in building, saying that it lays the foundations for future economic prosperity.

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