JOHN McDonnell has pleaded for Labour and Britain to be "more positive about Brexit" as he admitted he shared some of Donald Trump's concerns about globalisation.

The shadow chancellor used a speech today to slam the government claiming the fall in living standards was set to hit working people hard.

3 John McDonnell is calling on the chancellor to ditch "failed" austerity politics in the autumn statement Credit: PA:Press Association

Mr McDonnell said he accepted that "too much of the EU [was] putting the interests of big business over ordinary people" and the party accepted the result of the referendum.

He added that Mr Trump's election showed people in Western democracies who had been left behind are rejecting the status quo, and it was up to Labour to provide an alternative.

The Tories said Labour had "zero credibility" when it came to safeguarding the economy, and that the shadow chancellor completely failed to mention immigration or borders throughout his speech.

3 Theresa May spoke at the Lord Mayor's banquet last night Credit: Reuters

"We must embrace the enormous opportunities to reshape our country that Brexit has opened for us," Mr McDonnell said.

"In that way we can speak again to those who were left behind and offer a positive, ambitious vision instead of leaving the field open to divisive Trump-style politics.

"It's time we were all more positive about Brexit," he added. "Labour wants to see an ambitious Brexit Britain."

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He promises that "if Article 50 needs to be triggered in parliament, Labour will not seek to block or deny it," after concerns that Labour would set down red lines on supporting the motion.

However, the shadow chancellor was also asked on Radio 4 this morning if Mr Trump's view on immigration was one he shared.

"Of course it is, but he says it as an election slogan and will not deliver on it. He simply did it to garner votes to win an election," he replied.

3 President-elect Donald Trump wants to put tariffs on foreign goods to keep jobs in America Credit: AP:Associated Press

Last night Theresa May insisted that “liberalism and globalisation have left too many people behind”, and also called for “a modern version of the responsible approach to business”.

Mr McDonnell insisted he wanted to see "freedom of trade" and tariff-free access to the single market, but that the US election has shown that people were "discontent with what the economy delivers".

In his speech Mr McDonnell will say that "we understand the price for failure... when decade after decade the rich get richer and the ordinary people see their incomes stagnate, something snaps."

He adds: "Donald Trump's victory has underlines the point that the old, rigged economy working just for those at the top has failed."

Responding to John McDonnell’s speech on Brexit, Dominic Raab MP said:

“Labour have absolutely zero credibility when it comes to safeguarding our economy.

“But what is truly astonishing is that John McDonnell completely failed to mention immigration, or control of our borders, in his vision of post-Brexit Britain.

“This is yet more evidence of how out of touch Labour are with the values of working people in our country.

“Only the Conservative Party can deliver the best possible deal as we leave the EU - and that must mean controls on the number of people that come to Britain.”