Eddie Mair 4pm - 7pm
Andrew Castle's Fiery Row With Labour MP Over Their Socialist Agenda
31 December 2018, 08:48
This is the moment Andrew Castle told a Labour MP that businesses will stop investing in Britain if Jeremy Corbyn becomes Prime Minister.
Chris Williamson outlined Labour's proposals if Mr Corbyn becomes Prime Minister in 2019, including rail nationalisation and the creation of a national bank for £500billion.
However Andrew told him that they simply wouldn't be able to afford it as the wealthiest people in the country would simply move their money out of Britain.
Mr Williamson, a Corbyn loyalist, said on LBC: "The people want to see the railways brought back into public ownership, they want to see council houses being built again. They want to see public services..."
But Andrew insisted: "They want to know how it's going to be paid for and whether the people who make the money which fills the coffers, including the top 1% that are paying nearly 30% of all tax in this country are going to stay in this country and build their business here and employ people here.
"The trouble with a socialist utopia is that people disappear because there's no incentive to create wealth. That's the issue that people have with it."
Mr Williamson responded that it was just a caricature, but Andrew hit back: "No, it's a fact. There will be huge disinvestment if a Labour government gets in.
"People will not invest in a country to do business if this Labour government gets in. People are already making plans to move their money elsewhere."