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

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