Jeremy Corbyn faces a major test of his leadership today as the government’s fiscal charter will be voted on in the Commons. John McDonnell has U-turned and decided the party will oppose the bill but plenty of Labour MPs are expected to rebel by abstaining on the vote. Although the bill will pass without Labour’s support, the size of this rebellion will reveal how poisonous the atmosphere among Labour MPs has become.
The U-turn has made Labour look like a bit of a joke. The shadow chancellor has tried to explain why he has changed his mind but the question remains: why did he back the charter in the first place? One group who could have advised him not to was McDonnell’s council of seven economic advisers — including economists Joseph Stiglitz, Thomas Piketty and former adviser to Gordon Brown Danny Blanchflower.
Blanchflower popped up on the Today programme to defend McDonnell – arguing that he is up to the job, despite the mess he’s made of this situation:
‘Well of course he is, this is early days.
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