Osborne urges Labour MPs to back discredited fiscal charter

”Chancellor George Osborne has called on Labour MPs to defy their newly-elected leader Jeremy Corbyn and vote in favor of a harsh new fiscal charter, which economists have described as ‘ridiculous’ and ‘incoherent.’

Osborne on Wednesday asked “moderate, progressive Labour MPs” to back the legislation, which seeks to force future government to run a budget surplus – effectively enshrining austerity into law.

The Labour leader faces the biggest test of his leadership on Wednesday as he rolls out a three-line whip on his party to oppose the bill, which will be voted upon in the afternoon.’

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