Given all the hype emanating from much of the left about the wonders of the Labour Manifesto, it is hard not to get carried away. After watching the latest uplifting interview with Labor’s John Mcdonnell you can suddenly find yourself unconsciously humming “oh Jeramy Corbyn” as you set about washing the dishes. Given all this hype, it is perhaps then worth having a bit of a reality check and assessing what the Labour Party is actually promising should they get elected.
Labour is promising to increase overall public spending from the current level of 38% of national income to 43.3%. Though billed as almost revolutionary, this increase is fairly moderate when compared with much of Europe, for example, in Sweden public spending amounts to 48.4% of national income, Italy 48.8% and France a wapping 55.7%.