Success of Corbynomics will depend on 'public trust', claims Lord Turner

FSA chairman warns of 'legitimate concern' that monetary finance proposed by those from socialist tradition would be used to excess

Labour's radical new leader may struggle to win over voters to "Corbynomics" because leftwingers are less trusted with public money, according to former City watchdog Lord Turner.

Turner, who chaired the Financial Services Authority at the height of the sub-prime crisis, says the "technical case" for "People's QE", the policy at the centre of Corbynomics, which involves ordering the Bank of England to create money to pay for infrastructure projects, is "incontrovertible".