(Bloomberg) --
The fiscal plans as set out in Labour's 2017 manifesto are likely to be more growth-friendly than the Conservatives' plans, according to Bloomberg Economics. BE thinks the fiscal multiplier on investment spending is about three times bigger than on tax cuts for the rich. The risk for U.K. bonds is that the Labour leadership feels emboldened to go further and scale up the magnitude of the loosening in fiscal policy to differentiate itself from the Conservative party.
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