Labour’s McDonnell: No run on sterling if we win election

Britain’s Shadow Chancellor of the Exchequer John McDonnell speaks on the economy in London, Britain, December 9, 2019. REUTERS/Thomas Mukoya

LONDON (Reuters) – Britain’s opposition Labour Party is not expecting a run on the pound if the party wins Thursday’s election, Labour’s would-be finance minister John McDonnell said on Monday, adding that he thought the currency could rise instead.

Asked what his plan to stop a selloff in sterling would be, McDonnell said: “There wouldn’t be (capital flight), that’s all the advice we’ve been getting.”

“In fact my fear is that the pound would start going up because of our investment plans.”

Reporting by William James and Andrew MacAskill; editing by Alistair Smout

Products You May Like

Articles You May Like

Prepare to study in Canada
Study permit: Who can apply
Prince Edward Island Issues 223 Canada Immigration Invitations In First PNP Draw Of 2023
Ontario Immigration Draws: Province Issues 622 Canada Immigration Invitations
Quebec Releases Details Of Draw Issuing 1,000 Canada Immigration Invitations
British Columbia PNP Draws: Province Issues At Least 273 Canada Immigration Invitations
Canada Governments Urged To Encourage Immigration To Smaller Communities

Leave a Reply

Your email address will not be published. Required fields are marked *