Labour faces a tough time convincing voters on the UK economy

Voters will only elect Labour if they trust the party with the economy - but there are some scenarios in which they will give Corbynomics a hearing

A reputation for economic competence can be lost in a day and take a generation to win back. Ask the Conservatives. George Soros did for them on 16 September 1992 when his selling of the pound drove Britain out of the Exchange Rate Mechanism. The Conservatives lost three elections on the trot after Black Wednesday.

Labour, too, knows how long the rehabilitation process can be. No single event was to blame for Jim Callaghan losing the 1979 election; rather it was the combination of record peacetime inflation, a sterling crisis, a squeeze on living standards and the Winter of Discontent. There followed an 18-year gap before voters were again prepared to trust Labour with their money.

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People's quantitative easing is simply an alternative form of helicopter money

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