: The leftwinger economic policies – dubbed Corbynomics – have come under sustained attack in recent days, including by members of his own party, with Andy Burnham warning his party in an interview with this paper not to forget the lessons of the general election about the importance of economic credibility, according to The Guardian. But with just under three weeks until Ed Miliband replacement is announced, Corbyn credibility receives a welcome endorsement as 41 economists make public a letter defending his positions. The intervention comes as the Corbyn campaign reveals that a Labour government led by the MP for Islington North would reserve the right to renationalise Royal Bank of Scotland and other public assets, with either no compensation or with any undervaluation deducted from any compensation for renationalisation if they are sold at a knockdown price over the next five years. In the letter to which David Blanchflower, a former member of the Bank of England monetary policy committee is a signatory, the economists write: The accusation is widely made that Jeremy Corbyn and his supporters have moved to the extreme left on economic policy. His opposition to austerity is actually mainstream economics, even backed by the conservative IMF. He aims to boost growth and prosperity. But this is not supported by the candidate statements or policies.
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