Labour's public spending rules 'madness'

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The man in charge of Labour's 2015 election campaign has called Labour's public spending rules "madness". This morning the shadow chancellor John McDonnell announced that a future Labour government would control public spending through a "fiscal credibility" lock, although there would be scope for borrowing for capital investment. But speaking to Edward Stourton on Radio 4's World at One Spencer Livermore said: "Albert Einstein defined madness as doing the same thing over and over, and expecting a different outcome. This announcement doesn't move us on from where we were in 2015." (Image: Spencer Livermore. Credit: BBC)