Floating a £10 an hour Living Wage and the possibility of Universal Basic Income, the Shadow Chancellor told the audience at Labour party conference they no longer have to "whisper" the word socialism. Read McDonnell's speech below.
The former Goldman Sachs economist was an advocate of the Northern Powerhouse.
If the 1980s were a time when the global market was expanding, our time is one in which globalisation is stalled and fragmenting. It is the right, not the left, that has grasped what the new times mean.
The right side does not always win, and history rarely affords second chances. It's time for the British left to act – and boldly.
With financial turmoil, the vote share of social democratic parties has fallen across western Europe. The new challenge for the centre left is to build an outward-looking economy.
Politically, the choice is presented as static and binary: austerity or infrastructure spending. What we really need is bold thinking about the type of economy we want.
The challenger doesn't regret his bid for leadership.
Migrants do not have a negative effect on jobs or housing.
We need to articulate what role we wish to play in the world
There are 65m displaced people in the world.
But the hurdles are huge.
We notice you have ad blocking software enabled. Support the New Statesman’s quality, independent journalism by contributing now — and this message will disappear for the next 30 days.
If we cannot support the site on advertising revenue, we will have to introduce a pay wall — meaning fewer readers will have access to our incisive analysis, comprehensive culture coverage and groundbreaking long reads.