CBI boss criticises Jeremy Corbyn's 'people's QE' plan

Adviser to Labour leadership frontrunner hits back after John Cridland says QE was justified in banking crisis but should not become standard

Jeremy Corbyn's plan for "people's QE", which in effect would involve printing money to fund infrastructure spending, has been criticised by the head of the CBI.

John Cridland, director general of the independent employers' organisation, told BBC Radio 4's Today programme that while he agreed that capital investment was urgently needed, the Corbyn plan was not based on sound economics.

John Cridland: "We all know household finances and government finances are the same". No they are not!!! Households cannot print money