John McDonnell MP
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Labour's John McDonnell on 'budget surplus' vote

Labour's shadow chancellor has withdrawn the party's support for Conservative plans to force future governments to keep a budget surplus, despite previously saying they would back it.

John McDonnell said it would "underline our position as an anti-austerity party".

But speaking to the BBC's Newsnight programme on 28 September, from his party's conference, Mr McDonnell said that Labour would vote in favour in order to "assure people...we will live within our means", despite its policy to allow borrowing for investment.

  • 13 Oct 2015
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