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John McDonnell

  • The left is upping its campaign against the free market – and the City in particular

    April 28, 2019

    John McDonnell and the Labour party have long talked of the need to “democratise” our economy. Their plans for sweeping nationalisations, a state-run investment bank and the forced reallocation of shares to the workers are all couched in the language of taking power from the fat cats and making finance a servant of the public, [...]

  • Monetary policy is too crucial to leave in Labour’s meddling hands

    April 16, 2019

    Even by Donald Trump’s standards, it was an extremely Donald Trump thing to do. Last week, the President nominated Herman Cain for a seat on the board of the Federal Reserve, attempting to hand oversight of the world’s largest economy to a maverick gold-standard enthusiast. The nomination appears to be doomed, largely because of the [...]

  • Thames Water outlines refund policy if Labour nationalise utilities

    April 13, 2019

    Thames Water has told investors they will be able to demand a refund if Labour come into power and nationalise the utility after inserting a new clause into to its outstanding bonds. In a stock market document to the Irish Stock Exchange, the company outlined Labour's policies of renationalising water, among other utilities like gas and electricity, as [...]

  • Cross-party Brexit talks ‘positive’, says shadow chancellor

    April 13, 2019

    The government has held further talks with Labour as they continue to try and find a way to break the Brexit deadlock in Parliament. Shadow chancellor John McDonnell said these discussions had been "positive", but said it would take until the end of next week to see how far they had got.  Read more: MPs [...]

  • Labour’s desire for the Bank of England to control UK house prices is disastrous and illogical

    April 12, 2019

    The Bank of England should be responsible for boosting the UK’s productivity, according to the Labour party, which wants Threadneedle Street to dictate how banks lend money to businesses. Under the leadership of Jeremy Corbyn and John McDonnell, Labour also wants to keep RBS nationalised in order to direct its lending; turn Post Offices into [...]

  • Jeremy Corbyn and Alexandria Ocasio-Cortez love Modern Monetary Theory, but it is just the magic money tree again

    April 10, 2019

    As the Brexit process unfolds, the possibility of a Corbyn government has become much more tangible. Last month, John McDonnell, the shadow chancellor, wrote to the Treasury to say that in power he would require them to “widen the range of economic theories and approaches in which its officials and those in the rest of [...]

  • Cross-party Brexit talks abandoned until after EU summit, Downing Street confirm

    April 9, 2019

    The Conservatives and Labour have abandon Brexit talks until Thursday after failing to reach an agreement, just a day before Theresa May asks the EU for another delay to the UK’s withdrawal. Leading MPs from both parties held talks for four hours on Tuesday in an attempt to find a compromise plan which could win [...]

  • While Westminster is distracted by Brexit chaos, Labour puts the finishing touches to its plan for revolution

    April 1, 2019

    While the Brexit process pushes the British constitution to its limits, the Labour party continues to develop and promote policy proposals that, if implemented, would make the UK's torturous departure from the European Union look like a modest tweak to our political operating system. While all of Westminster focuses on the near collapse of functioning [...]

  • John McDonnell’s Marxist ideas for financing would be a disastrous experiment

    March 31, 2019

    While the Brexit process pushes the British constitution to its limits, the Labour party continues to develop and promote policy proposals that, if implemented, would make the UK’s torturous departure from the European Union look like a modest tweak to our political operating system. While all of Westminster focuses on the near collapse of functioning [...]

  • Labour’s John McDonnell reveals plans to turn post offices into branches of nationalised bank

    March 31, 2019

    Labour would transform post offices into branches of a new, nationalised bank, shadow chancellor John McDonnell has announced today. Labour said the policy would halt the decline of the high street and face-to-face banking by bringing footfall back into town centres. According to consumer watchdog Which, the UK has lost nearly two-thirds of its bank and [...]

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