It was costed, billions was coming from the corporation tax rise to 26%, still below Italy, Germany, France who have much higher rates.
The money was also coming from quatitative easing.
Quantitative easing is an unconventional monetary policy in which a central bank purchases government securities or other securities from the market in order to increase the money supply and encourage lending and investment.
In Labour's plan it was basically printing money which the state would owe back to the central bank.
There would have been no added cost for borrowing the money given the interest rate market.
Traditionally the risk is seen as driving inflation because there is extra money circulating in the economy. Which means the gains are lost.
But this depends on a number of factors, specifically where the money goes.
It is also criticised because its been used in the past to bolster private sector investment through govt incentives/funding - but all the money does is end up as accumulated capital in the hands of private sector, there is a small trickle down effect which doesn't do nearly as much with the money as intended. But the public still owes the money.
What Corbyn/MacDonald intended was make sure every cent went to the benefit of the people, while driving the economy forward at the same time.
It wasn't going into social welfare, it was to drive industry, private and public, at the local level.
This was all very carefully considered and costed.
But none of this was properly discussed in the media, the public completely unaware of what was being proposed.
The country has pissed that opportunity away....you know, for real change
The Tories will drive investment and create a few jobs but all the benefits of all the activity will end up in private hands, make no mistake about that.
The hoarding continues.....
