Why is Labour stuck in gold-standard thinking era? And why does it want gold-standard era austerity that inevitably follows? 

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From the Sunday Times today:

So, austerity here we come because Rachel Reeves has not noticed we have a fiat currency as yet.

Why is Labour stuck in gold-standard thinking era? And why does it want gold-standard era austerity that inevitably follows?

Reeves really does need to break out of her City style thinking.