World News: 13:41 GMT Sunday 14th July 2019. [Yahoo Business News Feed via SPi World News]
Sterling would rise if the opposition Labour Party won an election, the party's finance policy chief John McDonnell told the Sunday Times, playing down the idea that a socialist government could trigger capital flight. Britain's prolonged political crisis over Brexit has raised the likelihood of an early election and damaged the ruling Conservative Party's poll ratings. McDonnell, right-hand man to Labour leader Jeremy Corbyn and would-be finance minister in a Labour government, said markets would not panic over his plans for new taxes, nationalisations and large-scale investment.
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