Only the most gullible and uninformed voters, would believe any of it . Its all based on the lie that there's alternative politics - an alternative to realistic politics. Its rather like believing in alternative gravity, alternative medicine, or alternative chemistry. Its a ridiculous idea that depends on Corbyn having God like wisdom - which only the most obsessed Momentum supporter could believe, of a man with two abysmal A levels to his name. If only every Labour leader beforehand , and every world leader , had the wisdom of the Great Corbyn - imagine how much more successful they would have been.
And thats because the lie about politics is based on an economic lie - that 2 and 2 don't make 4, and state expenditure and income don't have to be within similar bounds. Corbyn's great plan assumes that he can just print 500 billion - and spend it on what he wants, with no downside. It assumes the rest of the planet would just hand over resources for us to spend, and our skilled people would willingly work to earn less and pay more benefits to the idle . Its the same logic as a child printing pff money on a photocopier, and taking it along to the toy shop to spend. As the entire Labour economic team, now exiled to the back benches, have pointed out, its economic illiteracy, and would destroy the economy.
But thats essentially all thats left of Corbyn's initial 2015 plan - to find hundreds of billions to splash around . That survived weeks- as even McDonnell had to admit that there was little hope of getting more tax back than Miliband or Osborne had planned, and scrapping subsidies for business, would just create mass unemployment. Corbyn is now just left with the fantastic idea of just printing 500 billion, and spending that, to bribe as many voters as he can. Essentially , thats only going to be believed by people who never learnt from their parents that resources are finite , or believe that Corbyn has magic powers. It won't sell , because most voters understand a budget , realise that borrowing comes with a price, don't want to see inflation shoot up, rely on others to employ them, and don't want to pay higher taxes to see Corbyn waste it.
Corbyn's promise of £500 billion of public spending sounds impressive until you realize the Government Major Projects Portfolio already totals nearly £500 billion in public spending on major projects. His £500 billion spending pledge is promising to spend only a little more than the government is already doing. It is just his spending would be via a national investment bank and directed at boosting the economy by improving infrastructure, and assisting manufactures and other employers.
As far as Corbyn's policies being unrealistic he has borrowed lots of his policy ideas from what other countries already successfully do. From nationalized railways to rent control to higher property taxes on more expensive homes to a national investment bank, etc.
His one radical idea of QE for direct investment is instead of just using QE to buy gilts and corporate bonds. It would still be QE by the Bank of England only when needed as a tool to fulfil its remit to manage money supply and inflation in the UK economy. Using QE for direct investment in infrastructure projects and direct loans to businesses is something that is doable according to the Bank of England. And QE as it currently exists was radical and new and has been expanded already to include buying corporate bonds.
He is nowhere near as radical as he is made out to be.
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As far as Corbyn's policies being unrealistic he has borrowed lots of his policy ideas from what other countries already successfully do. From nationalized railways to rent control to higher property taxes on more expensive homes to a national investment bank, etc.
His one radical idea of QE for direct investment is instead of just using QE to buy gilts and corporate bonds. It would still be QE by the Bank of England only when needed as a tool to fulfil its remit to manage money supply and inflation in the UK economy. Using QE for direct investment in infrastructure projects and direct loans to businesses is something that is doable according to the Bank of England. And QE as it currently exists was radical and new and has been expanded already to include buying corporate bonds.
He is nowhere near as radical as he is made out to be.