The Observer: Jeremy Corbyn wins economists’ backing for anti-austerity policies

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Former adviser to Bank of England among signatories to letter dismissing criticism of economic plans, saying they are ‘not extreme’

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Jeremy Corbyn’s economic policies have received the backing of more than 40 leading economists. Photograph: Christopher Thomond for the Observer

More than 40 leading economists, including a former adviser to the Bank of England, have made public their support for Jeremy Corbyn’s policies, dismissing claims that they are extreme, in a major boost to the leftwinger’s campaign to be leader.

The intervention comes as the Corbyn campaign reveals that a Labour government led by the MP for Islington North would reserve the right torenationalise Royal Bank of Scotland and other public assets, “with either no compensation or with any undervaluation deducted from any compensation for renationalisation” if they are sold at a knockdown price over the next five years.

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