In an interview with The Andrew Marr Show, Labour Shadow Chancellor John McDonnell claimed his party's re-nationalisation plans wouldn't cost the taxpayer a penny, Sunday 28 October 2018.
Despite Marr pushing McDonnell with the £176billion figure - what the CPS calculated back in January Labour's plans would cost - McDonnell repeated his previous claims that the taxpayer would not face any financial burden.
???? Our in-depth analysis puts the upfront cost of Labour's re-nationalisation plans at £176 BILLION. Watch John McDonnell tell taxpayers it won't cost them anything. pic.twitter.com/CWZ26xHT6V— CPS Think Tank (@CPSThinkTank) October 29, 2018
The interview was also reported in several newspapers:
In response, Robert Colvile, CPS Director, spoke to Clive Bull's LBC radio show and explained how our report looked in detail at Labour's plans and came up with the conservative figure required for upfront borrowing of £176bn.
Yesterday John McDonnell repeated claims his renationalisation plans won't cost the taxpayer a penny. @rcolvile spoke to @clivebull on @LBC to explain our estimate - up front borrowing of £176 BILLION https://t.co/FrQObrcMzR pic.twitter.com/n3MytWYC38— CPS Think Tank (@CPSThinkTank) October 29, 2018
'The Cost of Nationalisation' is available to download from the CPS website.