Labour will NEVER govern under Jeremy Corbyn due to his ‘extremely poor personal ratings’, says Lord Mandelson
- The Blairite peer also fires a broadside at the party’s ‘statist’ economic policies
- Says Labour could have a majority government if it weren’t for Jeremy Corbyn
- In a report he said John McDonnell would hand power to ‘trade union barons’
Lord Mandelson (pictured above) has fired a broadside at Labour
Lord Mandelson is to launch a brutal assault on Jeremy Corbyn, arguing a Labour government is impossible under his leadership.
The Blairite peer, who was one of the architects of New Labour and a Cabinet minister under Gordon Brown, also fires a broadside at the party’s ‘statist’ economic policies.
In a report, he warns that in government, ‘Chancellor’ John McDonnell would hand power to ‘a new generation of trade union barons’ and ‘reassert the statist mindset that New Labour disavowed’.
But he adds: ‘Were it not for Jeremy Corbyn’s extremely poor personal ratings – they make a majority Labour government an impossibility while he remains – Labour’s prospects would be far stronger than the party’s detractors imagine.’
His comments come in the foreword to a report by the free market think-tank Policy Exchange, which highlights the dangers of ‘McDonnellomics’ to the City of London.
The report examines Mr McDonnell’s plans for the economy and warns they are rooted in the politics of the 1970s hard Left.
Mandelson has said that Jeremy Corbyn’s ‘poor ratings’ make a majority Labour government ‘impossible’ Jeremy Corbyn is pictured above)
It concludes a Labour government would in a short period undermine investor confidence, damage the tax base and hurt growth.
Labour’s plans for the City would be a ‘gift’ to financial centres in New York, Tokyo and elsewhere, it says.
The report’s author, head of economics Warwick Lightfoot, said a McDonnell ‘experiment’ would hit companies and ordinary people.
Mr Corbyn and Mr McDonnell want to bring rail, water, electricity and other utilities back into public ownership, policies that would cost hundreds of billions of pounds.
Mr Lightfoot said: ‘John McDonnell has set out a highly ambitious policy agenda in terms of increases in public spending, taxation, nationalisation, modifications to property rights and employment and industrial relations law.
In a report Mandelson warns that in government, ‘Chancellor’ John McDonnell (above) would hand power to ‘a new generation of trade union barons’
‘This economic experiment would, over time, have a radical and transformational impact on the UK’s economy. But there is much more doubt about how it would benefit businesses and employees.’
The report was published as it emerged two of Mr Corbyn’s closest allies were at war over whether to back an early election.
Karie Murphy, Mr Corbyn’s new elections chief, wants a poll, and is at odds with Mr McDonnell, who wants to press for a second referendum.
Meanwhile, rebel Labour MPs who want to bring Mr Corbyn down have set up a WhatsApp messaging group called ‘Clause One’ – a reference to the party constitution’s opening commitment to be a ‘political Labour Party’ in Parliament.
They want to block moves to install hard-Left candidates in the Commons and force Mr Corbyn to quit, The Mail on Sunday reported.