Jeremy Corbyn and the Truth about Deficits

Origin of Specious

corboJeremy Corbyn is in big trouble if he doesn’t start telling the truth about deficits. Other politicians can build card-houses out of the pack of lies that has been handed around since the 1970s. Corbyn’s position can only rest comfortably on a foundation of fact. Sometimes honesty really is the best policy.

Andy Burnham made a bit of trouble for Corbyn in the recent LBC debate. It was a small taste of what could easily kill Corbyn as Labour leader. Burnham asked Corbyn whether he wanted to eliminate the deficit. Corbyn replied that he did, eventually, but added that the best way to do so is to invest in the economy and foster growth. Burnham replied that the economy is already on a steady growth path, yet tax revenues don’t come near to covering expenditure. So, he implied, you need to either raise taxes (unpopular) or cut spending (anathema…

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