"Jeremy Corbyn Is As Dangerous As A Hard Brexit"

28 November 2017, 09:54 | Updated: 28 November 2017, 10:00

A Corbyn government would be a "complete catastrophe" for the country, Chris Philp MP said.

The prospect of a Jeremy Corbyn government is a more serious threat to British business than Brexit, investment bank Morgan Stanley has warned.

The US firm told investors that an impending general election in 2018, once Theresa May's government realises it cannot secure the Brexit deal it wants and the Conservative party descends into open rebellion, would pave Labour's way to Number 10.

Policies of nationalisation, higher taxation and shift in spending priorities toward low-income households could damage valuations of UK businesses.

Nick Ferrari spoke to Chris Philp, a Conservative MP, and John Mills a Labour party donor. Both felt that Mr Corbyn and a hard Brexit would have similar impacts on the country's economy, but couldn't agree whether that was a good or a bad thing.

Chris Philp said: "It's a bit like the devil or the BBC really, a Jeremy Corbyn government would be a complete catastrophe for our country. I am working night and day as a member of parliament to avoid both."

But John Mills was rather ambivalent by comparison. "I don't think I'd be particularly worried about either of those," he said. "I don't think it would be the end of the world if we had to trade with the EU on World Trade Organisation terms.

"That's what most of the trade that goes on in the world operates under and we could survive it quite happily."

Watch the conversation at the top of this page.