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.
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