Monday 1 October 2018 / 8:46 AM Economy / John McDonnell

John McDonnell MP responds to Philip Hammond’s proposals

John McDonnell MP, Labour’s Shadow Chancellor, commenting on policy announcements by Philip Hammond including paying big businesses to mentor small businesses, said:

“The Conservative Conference is now degenerating into farce. Faulty apps, stolen policies, bitter infighting and bizarre announcements like this.

“This scheme reflects the warped logic of a party beholden to the interests of corporate giants. Rather than tell big businesses to act in a socially responsible manner – or even pay their taxes – the Government has resorted to begging and paying their fat cat friends to do what they should have done in the first place.

“Even an arch-Thatcherite like Hammond seems to have realised that after eight years of vicious austerity, state intervention is needed more than ever. But rather than tinkering around the edges in order to help the wealthy few, Labour will transform the British economy for the sake of the many.”