Labour government would bring PFI contracts into public sector, says McDonnell

Mr Corbyn claimed there had "effectively" been a run on the pound since the Leave vote in the 2016 Brexit referendum, a result which led to a sharp drop in the value of sterling the next day - the pound has remained more than 10% below its pre-referendum levels.

The Tories are stuck in the Victorian era - we are determined to embrace the possibilities of technological change. Over the next few decades, almost £200 billion is scheduled to be paid out of public sector budgets in PFI deals.

Labour deputy leader Tom Watson will use the closing moments of his conference speech to lash out at the UK's "biased media", specifically targeting Rupert Murdoch's newspapers.

The chief secretary to the Treasury, said: "We set up the FCA, which is ensuring credit card firms do more to help customers clear debt and, from January, rip-off charges will be outlawed".

He called on the Government to apply the cap in the same way now used with payday loans, adding: "If the Tories refuse to act, I can announce today that the next Labour government will amend the law". It limited the interest that can be charged on loans of 30 days or less to £24 per £100 lent. "You can call it the McDonnell amendment".

JEREMY CORBYN has rejected accusations that Labour has become a nasty party, insisting that the use of anti-Semitic language is completely at odds with the beliefs of the organisation.


"With many independent think tanks and committees declaring the NHS is at breaking point, removing this financial burden is the only sensible option and I welcome John McDonnell's announcement on this at the Labour Party conference".

That, and the prospect that internal Conservative Party divisions over Brexit which could bring down May's government, have made Labour a viable alternative.

McDonnell's plan could hurt a large proportion of credit card lenders but it could also harm the vast majority of borrowers out there who are not trapped in persistent debt, and do pay off their cards at a reasonable pace, by cutting the number of companies willing to offer cards to borrowers deemed risky. "We now have to prove that we will be an effective governing party". Although no election is due until 2022, it is preparing for Theresa May's Conservative minority government to fall much sooner.

"We should never forget that we are part of that great Labour tradition and we should be so proud of it".

Mr Newmark told Sky News: "Mr Corbyn must be acutely embarrassed by what should be a centrepiece celebratory conference after his achievements, the achievements of the party at the general election, [but it] has yet again been marred by headlines like this".

"We need healthy competition between a multiplicity of actors, with a renewed focus on innovation and positive market disruption is what our industry needs at this pivotal moment".


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