McDonnell Now Sure There Won’t Be a Run on the Pound

John McDonnell has changed his tune from Labour conference, when he said

“What happens if there is a run on the pound? What happens if there’s capital flight? I don’t think there will, but you never know, so we’ve got the scenario plan for that”

Now he insists “there’s never going to be a run on the pound” and “of course” he isn’t planning capital controls if it happens. Only a few years ago McDonnell used to openly threaten the City with capital controls if they opposed his policies. Could it be that he’s just a little more honest in a room of fellow travellers than he is addressing the nation?

UPDATE: A Guido reader reminds us that Jeremy Corbyn said:

Corbyn allies from the likes of Paul Mason to Mark Serwotka bang on about capital flight and capital controls at left wing seminars all the time. They see it as the ruling class trying to destabilise left-wing regimes – like Venezuela – rather than the middle classes trying to get their money out before the economy inevitably tanks. The Shadow Chancellor is being economical with the actualite because it has turned into an effective Tory attack line. Effective because it is true…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Former public schoolboy Chuka Umunna told the  ‘Exit From Brexit Dinner’…

“Remainians, Remoaners, I don’t care what the label is, I’m proud. It’s fashionable to label everyone in this room as the liberal metropolitan elite . . . This caricature is promoted by a bunch of former public schoolboys!” 

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Labour Peddle More Animal Sentience Fake News Labour Peddle More Animal Sentience Fake News
Corbyn Launches Labour Muslim Group Headed By “Israel Has No Right to Exist” Activist Corbyn Launches Labour Muslim Group Headed By “Israel Has No Right to Exist” Activist
Clive Lewis Investigation Dropped Clive Lewis Investigation Dropped
Tories Take Poll Lead Tories Take Poll Lead
Cult of Corbyn – Christmas Edition Cult of Corbyn – Christmas Edition
McDonnell’s Socialism (With Diagram) McDonnell’s Socialism (With Diagram)
Labour’s “Easy Movement” Muddle Labour’s “Easy Movement” Muddle
UK Number One Developed Economy For New Business UK Number One Developed Economy For New Business
Guardian and BBC Fail to Mention Kerslake is Labour Adviser Guardian and BBC Fail to Mention Kerslake is Labour Adviser
Max Clifford Dead Max Clifford Dead
Sunday Show Highlights Sunday Show Highlights
Labour Candidate’s $3000-a-Bottle Champagne Labour Candidate’s $3000-a-Bottle Champagne
Khan Gets Brexit-Bashing Corbynistas To Write His ‘Independent’ Impact Papers Khan Gets Brexit-Bashing Corbynistas To Write His ‘Independent’ Impact Papers
BuzzFeed Redundancies Doubled BuzzFeed Redundancies Doubled
WATCH: Barnier Shuts Down Remainers’ Single Market Fantasy WATCH: Barnier Shuts Down Remainers’ Single Market Fantasy
Brexit Bill £35-39 Billion: What the Papers Said Brexit Bill £35-39 Billion: What the Papers Said
Senior Brexiteers Back Deal Senior Brexiteers Back Deal
Mail’s Epic Guardian Burn Mail’s Epic Guardian Burn
Deal Done: Read in Full Deal Done: Read in Full
Watch: Moment May and Juncker Announce Deal Watch: Moment May and Juncker Announce Deal