Labour Shadow Chancellor John McDonnell promises “Manufacturing Renaissance” because “the winds of globalisation are blowing against the belief in the free market.”
During his keynote speech to the party conference in Liverpool, the shadow chancellor said the post-Brexit “Manufacturing Renaissance” should be backed by a comprehensive industrial strategy that Labour oversees.
He stressed the fact that Globalisation’s “rules” are being “rewritten for us” as governments around the world move away from free market reliance in favour of intervention instead.
Labour is to commit itself to a multibillion pound pledge that would help make up any shortfalls in funding for deprived regions and communities due to the Brexit.
Labour Shadow Foreign Secretary Emily Thornberry is to say at her speech:
“For the period after, they have said nothing. That is not good enough. Without long-term certainty over funding, our most deprived regions and communities cannot plan ahead. They cannot attract other investment. They cannot make progress.
“So thanks to John McDonnell, Labour’s shadow chancellor, we can guarantee that a future Labour government will make up any shortfall in structural funding into the 2020s and beyond. And the same will go for the funding of peace and reconciliation projects in Northern Ireland. The communities who stand to lose out most from Brexit must be looked after first.”