{"id":64027,"date":"2018-02-10T12:15:23","date_gmt":"2018-02-10T17:15:23","guid":{"rendered":"http:\/\/www.gayfriendschat.com\/socialblog\/john-mcdonnell-says-that-public-ownership-will-cost-taxpayers-absolutely-nothing\/"},"modified":"2018-02-10T12:15:23","modified_gmt":"2018-02-10T17:15:23","slug":"john-mcdonnell-says-that-public-ownership-will-cost-taxpayers-absolutely-nothing","status":"publish","type":"post","link":"https:\/\/www.gayfriendschat.com\/socialblog\/john-mcdonnell-says-that-public-ownership-will-cost-taxpayers-absolutely-nothing\/","title":{"rendered":"John McDonnell Says That Public Ownership Will Cost Taxpayers Absolutely Nothing"},"content":{"rendered":"

John McDonnell Says That Public Ownership Will Cost Taxpayers Absolutely Nothing<\/b><\/p>\n

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Labour\u2019s<\/a> plans to bring services into public ownership would cost \u201cabsolutely nothing\u201d, John McDonnell<\/a> has said.<\/p>\n

The shadow chancellor\u2019s comments came as he outlined an agenda to put public services \u201cirreversibly in the hands of workers\u201d so they can \u201cnever again be taken away\u201d.<\/p>\n

He told a Labour gathering in London that public ownership is not just a \u201cpolitical decision\u201d but an \u201ceconomic necessity\u201d.<\/p>\n

McDonnell claimed his plans would not cost the taxpayer a penny, the Press Association reports.<\/p>\n

He told Sky News: \u201cIt would be cost neutral because you would be bringing into public ownership an asset.<\/p>\n

\u201cIn addition to that, you would not just have an asset \u2013 that asset would give you income.<\/p>\n

\u201cInstead of that income going to shareholders, it would come to the taxpayer.\u201d<\/p>\n

John McDonnell says that public ownership will cost taxpayers absolutely nothing<\/strong>” alt=”John McDonnell says that public ownership will cost taxpayers absolutely nothing<\/strong>” data-credit=”PA Wire\/PA Images” data-portal-copyright=”PA Wire\/PA Images” data-provider=”pressassociation” data-provider-asset-id=”2.34763247″ data-has-syndication-rights=”false”><\/p>\n

Asked if public ownership would cost \u201cabsolutely nothing\u201d, he replied: \u201cExactly that.<\/p>\n

\u201cIn fact we believe, because we would manage it more effectively and we would cut out the drain of resources by the shareholders, we believe we would be able to reduce customer prices and invest in the industry and make it more efficient.\u201d<\/p>\n

McDonnell\u2019s comments sparked business concern, while critics suggested the plans would cost taxpayers billions of pounds.<\/p>\n

The shadow chancellor told Labour\u2019s alternative models of ownership conference: \u201cThe next Labour government will put democratically owned and managed public services irreversibly in the hands of workers, and of those who rely on their work.<\/p>\n

\u201cWe will do this not only because it\u2019s right, not only because it\u2019s the most efficient way of running them, but also because the most important protection of our public services for the long term is for everyone to have and feel ownership of them.<\/p>\n

\u201cWe aren\u2019t going to take back control of these industries in order to put them into the hands of a remote bureaucracy, but to put them into the hands of all of you \u2013 so that they can never again be taken away.<\/p>\n

\u201cPublic ownership is not just a political decision, it\u2019s an economic necessity.<\/p>\n

\u201cWe\u2019ll move away from the failed privatisation model of the past, developing new democratic forms of ownership, joining other countries, regions and cities across the world in taking control of our essential services.\u201d<\/p>\n

The CBI\u2019s managing director for people and infrastructure, Neil Carberry, said: \u201cLabour\u2019s calls<\/a> for nationalisation continue to miss the point. At a time when the UK must be seen more than ever as a great place to invest and create jobs, these proposals would simply wind the clock back on our economy.<\/p>\n

\u201cIf Labour turns its back on good collaboration between the government and the private sector, public services, infrastructure and taxpayers will ultimately pay the price.\u201d<\/p>\n

McDonnell announced the creation of a working group to look at how cooperatives can grow, expand and access capital, and to decide which sectors should be prioritised in the expansion of cooperative ownership.<\/p>\n

He also accused the Conservatives of being \u201cintellectually bankrupt\u201d.<\/p>\n

\u201cUnder the Tories, Britain is now seriously out of step with our international partners, failing to keep up with them.<\/p>\n

\u201cThe Conservatives are intellectually bankrupt: caught between clinging on to the failing dogmas of the past and offering a pale imitation of the radical change which Jeremy Corbyn\u2019s Labour Party now offers.\u201d<\/p>\n

Treasury Chief Secretary Liz Truss said: \u201cIndependent reports show Labour\u2019s renationalisation plan will cost taxpayers billions and lead to worse services for people.<\/p>\n

\u201cLabour would put politicians in charge of running everything from the phone lines to electricity supply, meaning people have nowhere to turn when things go wrong. That didn\u2019t work last time and won\u2019t work this time.\u201d<\/p>\n

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\nwww.huffingtonpost.co.uk\/entry\/john-mcdonnell-public-ownership-cost-taxpayers-absolutely-nothing_uk_5a7f20c2e4b08dfc930499ce<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

John McDonnell Says That Public Ownership Will Cost Taxpayers Absolutely Nothing Labour\u2019s plans to bring services into public ownership would cost \u201cabsolutely nothing\u201d, John McDonnell has said. The shadow chancellor\u2019s comments came as he outlined an agenda to put public services \u201cirreversibly in the hands of workers\u201d so they can \u201cnever again be taken away\u201d. … Continue reading John McDonnell Says That Public Ownership Will Cost Taxpayers Absolutely Nothing<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2466,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":["post-64027","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nJohn McDonnell Says That Public Ownership Will Cost Taxpayers Absolutely Nothing - GAYFRIENDSCHAT.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gayfriendschat.com\/socialblog\/john-mcdonnell-says-that-public-ownership-will-cost-taxpayers-absolutely-nothing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"John McDonnell Says That Public Ownership Will Cost Taxpayers Absolutely Nothing - GAYFRIENDSCHAT.com\" \/>\n<meta property=\"og:description\" content=\"John McDonnell Says That Public Ownership Will Cost Taxpayers Absolutely Nothing Labour\u2019s plans to bring services into public ownership would cost \u201cabsolutely nothing\u201d, John McDonnell has said. 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