John McDonnell has pledged to install a Bank of England Governor who is “in tune” with the ideas of himself and Jeremy Corbyn if Labour are able to form a government in the next general election.

The shadow chancellor said that he is taking counsel from his key advisors to choose a candidate who fits the “requirements of what will be a radical Labour government”.

Speaking to Novara Media in September 2018, Mr McDonnell said: “When we move forward what we will want to have is someone in the Bank of England that yes is in tune with our ideas, but has the status and the experience of understanding the economy- and there is a range of people out there.

“We have a set of advisors at the moment that are helping us through, and it will be chosen from I think the right person at the right time to meet the requirements of what will be a radical Labour government.”

Mr McDonnell praised his “good working relationship” with the current governer Mark Carney, who was under pressure to resign from Eurosceptic Tory MPs over his aversion to a “no-deal” Brexit last autumn.

The MP for Hayes and Harlington welcomed Phillip Hammond’s confirmation of Mr Carney staying in post until January 2020, as it allows him a greater “opportunity” to choose his own after he departs.