Responding to John McDonnell’s announcement on Labour’s economic plans, Liberal Democrat Shadow Chancellor Ed Davey said:

“John McDonnell’s promises are worth nothing as long as Labour is committed to negotiating Brexit.

"The Brexit squeeze on living standards has already left UK households £1,500 poorer. Either a Tory or Labour Brexit would mean less money in people’s pockets and less tax revenue to fund our public services.

“Only the Liberal Democrats will stop Brexit and invest the £50 billion Remain bonus in our public services and tackling inequality.”