How John McDonnell Underestimated His Broadband Costings By £129 Billion

THE cost of the broadband nationalisation plans put forward by John McDonnell are grossly underestimated to the tune of £129 Billion, TBG can sensationally reveal.

John McDonnell claimed that the annual maintenance costs came to just £230 million.

Labour came to this figure by taking the £6.9bn overall figure and divided it by 30 to arrive at the estimated £230m annual operating cost over a 30-year period.

However, what the Shadow Chancellor forgot was that the figure was calculated using a discount rate of 9.3% and also that it was done at CURRENT price levels.

Therefore, as this spreadsheet proves, McDonnell underestimated the overall figure by £460 million a year, or to be more accurate, a whopping £129 billion.

And yet this man wants to run the Treasury.