The British Labour Party's new leader has named as finance spokesman an ally who lists "fomenting the overthrow of capitalism" among his interests in Who's Who.
After winning Labour's top job by a landslide on Saturday, Jeremy Corbyn yesterday named senior members of his shadow cabinet, including John McDonnell – a former trade unionist who backs renationalising banks and imposing wealth taxes – as his shadow finance minister.
Mr McDonnell lists "generally fomenting the overthrow of capitalism" among his interests in the Who's Who directory of influential people, and wants public ownership of the banks .
“My new policies, with Jeremy’s have been roundly endorsed by the leadership election, so the economy would be safe in our hands but also it would be more prosperous,” Mr McDonnell (64) told BBC Radio.
Free markets
Mr McDonnell stirred controversy five years ago by quipping that if he could return to the 1980s he would have assassinated Thatcher. He later apologised for the comment, which he said was a joke.
Prime minister David Cameron has warned that Mr Corbyn's policies are a threat to Britain's economic security.
Mr Corbyn’s appointment of Mr McDonnell, rather than a more pragmatic figure from outside his left-wing camp, is the strongest signal since he was elected leader that he intends to pitch Labour as a hard-left party of state intervention.
– (Reuters)