What is Labour’s biggest obstacle to getting back into government any time soon? Those who’ve spent any time thinking about the general election result – and the party still doesn’t talk that much about May 2015 – will say that until voters trust the party on the economy, it is not going to succeed. John McDonnell’s team clearly agrees, briefing the media today that the reason the Shadow Chancellor is making a major intervention on the economy as he prepares for the Budget is that voters were wary of Labour on the economy.
McDonnell’s speech today sounds remarkably similar to the messages Ed Balls offered before the election, that Liz Kendall annoyed members with in the leadership contest and that Rachel Reeves produced in her own speech just days ago. He argues that ‘there is nothing left-wing about excessive spending’ and pledges exert ‘iron discipline’ on day-to-day spending, while of course spending more on infrastructure.
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