Shadow chancellor John McDonnell speech at the London School of Economics: Austerity is not a necessity, it is a political choice
Shadow chancellor John McDonnell has today slammed the idea that economic austerity is a necessity, calling it a political choice.
Delivering a speech entitled "the new economics" at the London School of Economics, McDonnell also said that radical moves were needed if a balance British economy was to be achieved, according to a number of reports from attendees.
However, he acknowledged that the British public may not currently have the appetite to adopt his brand of economics, stating that his party had a fight on their hands to make themselves economically credible again.
He also conceded that Labour would have to learn to better handle the media, remarking that people don't vote for a party that's divided.
McDonnell's speech tonight was one of a serious of talks about economics that he and other speakers are due to host across the UK.