General Secretary of Unite the Union, Mr McCluskey was savaged by Mr Peston who said, “do you not have any concerns at all?” Mr Peston added: “We’ve got this green transformation fund, we’ve got the national investment bank, we’ve got the social transformation – you add all that together over five years and it is £400billion of debt associated with these investments.
“That’s £80billion per year – so an enormous amount of borrowing.
“Do you not have any concerns? That interest rates for example may be forced up by investors from all around the world concerned that the money is going to be wasted.
“Why are you not concerned about it?”
Mr McCluskey tried to interrupt several times but was abruptly overruled by Mr Peston.
The Labour supporter then tried to interrupt by shouting, “Robert! Robert, Robert! Rubbish! Robert, let me finish!”
Mr Peston said: “They are way beyond anything we’ve seen for years.”
Mr Peston then conceded and let Mr McCluskey attempt to finish his point.
He said: “Not only costing it but highlighting where we will get that money from.”
Mr Peston then interrupted Mr McCluskey again saying, “But this is all borrowed!
“He said this is all borrowed. But he said this £400billion is all to be borrowed!”
Mr McCluskey added: “Capital expenditure and revenue expenditure. He has outlined that for a number of years now.”
Mr Peston interrupted: “But you are relying on the good will of investors to borrow £400billion. Are you not remotely concerned they are going to punish you?”
Mr McCluskey replied: “No, we are relying on a Labour government to start to invest in our country and our communities again, invest in our manufacturing. Look at that national investment bank, regional investment banks.
“There are hundreds maybe thousands of small and medium businesses out there desperately needing loans – these are the life blood of a sustainable economy.
“It’s only Labour that has answers for everything in broken Britain.”
