Labour pledges to nationalise public services

The Shadow Chancellor says the Labour Party’s promise to bring services such as water and rail into public ownership would be ‘cost free’ as the price for borrowing to buy them back would be covered by the profits. At a conference today in London John McDonnell called for essential services to be put “irreversibly in the hands of workers”. But critics said re-nationalisation would cost billions and lead to a worsening of services.