Rolling coverage of all the developments at the Labour conference in Liverpool, including John McDonnell’s speech
8.05am BST
It’s the economy day at the Labour conference in Liverpool and the key speaker will be John McDonnell, the shadow chancellor. He has been giving interviews this morning and is about to appear on the Today programme. I will be covering that in detail.
Overnight McDonnell and Emily Thornberry, the shadow foreign secretary, have announced that a future Labour government would compensate deprived regions for any funding they will lose when the UK leaves the EU. The government has promised to make good this shortfall up to 2020, but not beyond that. Labour would continue to compensate them “into the 2020s and beyond”.
For the period 2014 to 2020, the UK was allocated €10.8 billion in structural funding for our most deprived regions and communities. The Tories have given an undertaking hedged in conditions that funding up to 2020 will be protected.
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.
Labour will rewrite the rules of our economy to foster a British manufacturing renaissance https://t.co/Pv1u4Bfb8W #Lab16
John McDonnell unrepentant over Esther McVey attack: “You have to be honest in politics – you have to express how you feel.” @GMB
McDonnell says ‘people that ask me to apologise, go and meet the families affected by cuts. I have a justifiable anger’ , re Esther McVey
Politics blog | The Guardian http://ift.tt/2cEBpOI
Sig Nordal 