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Labour ‘on the front foot’ for economy
McDonnell says party is winning back the public’s trust

LABOUR is going back on the “front foot” on the economy, John McDonnell told the Star yesterday after launching a “fiscal credibility rule” requiring the party to eliminate budget deficits.

The plan would require the government to balance the books for day-to-day spending over a five-year period — but allow it to borrow money to finance capital investment.

It has been widely received as Labour’s attempt to claw back voters’ trust on economic issues, which the party has struggled with since the 2008 crash.

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