Labour s McDonnell: No run on sterling if we win election
|reuters.com 09 Dec 2019 at 07:00|
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.”