Jeremy Corbyn’s policies will hurt economy, Mark Carney suggests

Jeremy Corbyn’s economic policies would “hurt” the poor and elderly and “imperil” Britain’s economic recovery, reports The Telegraph.

Mark Carney indicated that said that the plans put forward by the new Labour leader and John McDonnell would increase inflation and could in turn hit the economy.

The comments, made during an appearance at the Treasury select committee, will further undermine Mr Corbyn’s economic credentials.

It comes after he was criticised after calling for people to receive unlimited benefits.

At Wednesday’s committee hearing, Mr Carney was questioned by John Mann about the impact on the economy of “People’s Quantitative Easing” and taking away the Bank of England’s independence, two policies put forward by Mr Corbyn and Mr McDonnell.

Mr Carney said: “The issue would be imperilling potentially the achievement of price stability. The consequence of that of course would be inflationary.

“The people who tend to get hurt the most by inflation are the poor, the elderly, those that can’t hedge themselves – that’s been the experience throughout history and I’m sure that will be the experience in the future if the Bank of England were not to conduct policy not consistent with achieving its mandate from parliament.”