Labour MP Says Party Will Inject Confidence Into The Economy

26 September 2017, 16:38

"Investing in the economy would release resources currently sitting on balance sheets."

Labour have prepared for a run on the pound if they are elected, shadow chancellor John McDonnell has admitted.

At a fringe event at the party's conference in Brighton, Mr McDonnell described the work being done to allow Labour to "hit the deck running" should they win power.

Speaking to Iain Dale, the MP for Derby North Chris Williamson said he believed a Labour government would actually inject confidence into the economy: "What John McDonnell set out yesterday would incredibly positive for business.

"It would mean invest in our economy. By investing in the economy that would release resources which are currently sitting on the balance sheets of many major corporations in the country.

"A Labour government would inject a degree of confidence in the economy, a degree of confidence that we are serious about turning the economy around."

Watch the interview above.