Socialist Britain won’t be ‘ripped off any extra’ below Labour – McDonnell

LONDON (Reuters) – Britain’s most important opposition Labour Party desires to radically rework the financial system, forming a Socialist society the place “we’re not going to get ripped off any more”, its finance coverage chief, John McDonnell, stated on Sunday.

John McDonnell, Shadow Chancellor, seems on the BBC’s Andrew Marr Show in London, Britain May 6, 2018. Jeff Overs/BBC/ Handout by way of REUTERS

With Labour virtually neck-and-neck within the polls with the governing Conservatives, who lost their majority in final yr’s election, its chief Jeremy Corbyn and others are setting out their stall forward of a brand new election not due till 2022.

McDonnell informed the BBC that he had been speaking to business leaders to supply them readability on Labour’s insurance policies.

“Some of them you will like and some of them you won’t like, I accept that, but there is nothing up my sleeve,” he stated of his message, including: “You’ll get a fair rate of return but we’re not going to be ripped off any more, simple as that.”

Asked about his entry within the Who’s Who listing of influential individuals which lists his ardour for “generally fomenting the overthrow of capitalism”, he stated it was a joke about beer-making.

But he added: “It’s (about) transforming our economy.”

“I don’t think there is (a difference with overthrowing capitalism) … because I think at the end of the day I want a Socialist society and that means transforming in a way which radically challenges the system as it now is.”

He additionally stated Venezuela, which is reeling from hyperinflation and shortages, was not a Socialist nation.

“I think it took a wrong turn when (late leader Hugo) Chavez went, and I think unfortunately since then I don’t think they have been following the Socialist policies that Chavez was developing.”

Reporting by Elizabeth Piper, Editing by William Maclean

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