Sun. Jan 17th, 2021

Labour would rewrite rules of UK economy, says John McDonnell

Shadow chancellor criticises corporate excess but rules out windfall tax on oil and gas firms

John McDonnell has promised that a Labour government would “rewrite the rules of our economy” as he announced radical reforms to business regulation that he said would help workers to “take back control”.

In a speech that made a series of attacks on corporate excess, the shadow chancellor also ruled out imposing a windfall tax on oil and gas companies – a policy Labour had been seriously considering in recent days.

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