The shadow chancellor says the government will have "real problems" if it does not "tackle the social care crisis".
Labour's shadow chancellor says public services are "in crisis" when we need them most.
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That news that Woodford Equity Income investors will receive their first payouts on Thursday hasn't appeased outgoing shadow Chancellor John McDonnell.
“Many small investors who were simply seeking a secure investment for their pension have been hurt by the failure of Woodford," he says.
“This isn't just about the failure of Woodford. More importantly it's about the failure of the regulatory system and in particular the FCA."
He's called for an independent inquiry into "this debacle, including the role of the FCA".
"Until we have the results of such an inquiry I have recommended to the chancellor that it is only proper that he delays the installation of [Andrew] Bailey as the Governor of the Bank of England.”
Jeremy Corbyn has apologised for the party's election defeat but the shadow chancellor says: "This is on me".
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Shadow Chancellor John McDonnell insists he won't be taking over as Labour's interim leader and says he is "heartbroken" at the election result, which he blames on Brexit.
Asked if he'd take on the leadership temporarily, he says: "No, no, no, no. There will be further announcements. Jeremy has said he won't lead the party into the next election, so at some stage we'll go into a leadership election, and Jeremy and the National Executive Committee will determine that timetable. Jeremy wants to ensure there is a period of reflection."
He says he realises the "future looks bleak" but says the party would "build on this", adding that Labour had tried to have policies of principle that brought the country back together.
As for Labour activists, he says: "I know they're heartbroken, I know that, so am I... they worked incredibly hard, [and were] incredibly dedicated, we have setbacks like this in our movement, but it isn't down to them... Brexit was the issue for us."
The shadow chancellor says the exit poll predicting large Conservative gains has come has a shock.
Shadow chancellor John McDonnell says the polls show a trend towards Labour, adding that it will "all be to play for" at the ballot box on Thursday.
Shadow Chancellor John McDonnell outlines changes Labour would make in its first 100 days in power.