Tamil Diplomat

McDonnell to push for Robin Hood tax

Chancellor George Osborne has fought moves to introduce such a tax, warning it would harm the City.

But Mr McDonnell believes it could rein in the excesses of the financial sector and help pay for improvements to the NHS and other public services.

He will also set out arguments for “new economics” in his address on Monday.

The shadow chancellor will say a future Labour government will live within its means, investing to grow the economy and sharing proceeds “more equally”.