Mr McDonnell admitted he didn’t want to promise anything he couldn’t deliver.
JEREMY CORBYN has been accused of betraying young voters after his Shadow Chancellor all-but scrapped his vow to write off £100 billion of student debt.
John McDonnell downgraded the election pledge by saying a Labour government would “try to” cancel the debt.
But crucially he added: “I don’t want to promise something we can’t deliver”. The Marxist acknowledged the cost of paying off all remaining graduate debt would cost taxpayers about £100 billion and admitted: “It’s a lot of money.”
He said the system is “imploding” and said a Labour government would “look at what we can do” but repeatedly dodged to commit to writing off all debt.
The major shift in position comes just a month after Mr Corbyn graduates at the election that he would help those “already burdened with student debt,” adding: “I will deal with it”.