Jeremy Corbyn, who romped home to win the Labour party leadership election with a clear majority at the weekend, has named John McDonnell as his shadow chancellor.
Like Corbyn, whose leadership bid he managed, McDonnell is a veteran left-winger, and has been MP for Hayes and Harlington since 1997. A blog post on McDonnell's official Labour party website dated 12 August 2015 gave some clues as to economic stance, stating: "Jeremy Corbyn would clear the deficit - but not by hitting the poor". McDonnell's post said: "Let me make it absolutely clear that Labour under Jeremy Corbyn is committed to eliminating the deficit and creating an economy in which we live within our means. "Our plans to tax the very rich and reshape the economy are sound com...
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