JOHN MCDONNELL, the UK Shadow Chancellor, has launched a wholesale review of Labour’s economic policies at the Labour Conference in Brighton today, Monday September 28.
In his first important speech as Shadow Chancellor McDonnell spoke about the burden of tax on middle and low-earners, a Robin Hood tax on financial transactions and potential changes to the mandate of the Bank of England.
Companies such as Starbucks, Vodafone, Amazon and Google have been targeted by McDonnell who he says must now “pay their fair share.”
Speaking to BBC1’s Breakfast this morning he said, “What we are doing today is opening up one of the biggest debates on our economy this country has ever seen.”
On the future policies of the Labour Party McDonnell said, “We will rigorously test them and test them again until we know they will work in the interests of everyone and not just the rich elite in this country.”