Rolling coverage of all the day’s political developments as they happen, including John McDonnell’s economy speech
9.12am GMT
John McDonnell, the shadow chancellor, is giving a big speech on the economy this morning, ahead of the autumn statement a week tomorrow. As Phillip Inman reports in our preview story, he is urging the government not to extend austerity beyond 2020.
Related: Labour to call on chancellor not to extend austerity beyond 2020
We are hoping that next week Philip Hammond will put behind him the fiscal framework that he and George Osborne designed when they were in opposition and implemented when in government and enable … investment to take place. I’m hoping that Philip Hammond will steal some of our ideas on that.
Also, we’ve got to say now, if we want a fair economy, we’ve got to end the austerity measures that were introduced by George Osborne. We saw a period of time in which tax cuts were given to the rich and corporations while some of the most deprived in our communities, particularly disabled people, were hit with cuts in benefits. So we are looking to see how the government now lays out its plan, rewrites the rules of its fiscal framework and then looks to long-term investment.
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Sig Nordal 