Jeremy Corbyn: in favour of renationalising the railways, banks and energy companies

Jeremy Corbyn: in favour of renationalising the railways, banks and energy companies

Corbyn suggests that Government should use its economic clout to make things happen. Is that so bad?

Ironically, most business leaders would agree, up to a point.

Government should be taking advantage of today’s low interest rates to borrow money to invest in infrastructure.

Not to do so is to squander a once in a generation opportunity to rebuild this country.

Corbyn has also suggested nationalising the railways, banks and energy companies.

Whether nationalisation would be any better is a moot point, but no sane person would invent the present system if we were not already stuck with it.

The growth record of neo-liberal free market economics — the mantra for the past 35 years — was recently shown by a group of Cambridge researchers to be worse on almost all counts than the system we had before Mrs Thatcher came along.

The present economic outlook here — and internationally — is far more fragile than the Government cares to admit and it is reasonable to look for an alternative way of doing things.

Source: Corbynomics are not as crazy as critics suggest | Business | London Evening Standard