Review: The book that reveals John McDonnell’s economic world view
From our UK edition
In 1995, the Labour party voted to amend Clause IV of its constitution, ditching its historic commitment to mass public ownership. A significant victory for Tony Blair, it sparked a modernisation process that saw New Labour win three successive elections. On Monday John McDonnell drew wild cheers from Labour delegates in Liverpool when he directly rebuked Blair, insisting Clause IV is 'as relevant today' as a century ago. The Shadow Chancellor certainly rolled back the years during his conference speech, unveiling the most radical Labour prospectus of modern times – an unashamedly socialist pitch, calling for aggressive re-nationalisation and sweeping trade union powers.