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Shadow Chancellor John McDonnell today launches his economic blueprint for a Labour Government, vowing “no surprises” for taxpayers or business.

A Labour-run Treasury would operate an “unprecedented” level of openness to win the confidence of the City and the wider public, he says.

Mr McDonnell admits some businesses feel “insecure” about the prospect of a Labour Government in the event of Theresa May’s administration falling over Brexit.

But he has sought to reassure them with Gordon Brown-style pledges on fiscal responsibility, including sticking to published policies on taxation, borrowing and investment, and “firm discipline” on budgets.

(Image: PA)

He also vowed Labour will right the social wrongs of Tory austerity.

He told the Mirror: “The best way to overcome the City’s anxiety about a Labour government is to be completely open and transparent.”

He added: “There will be radical change. We’re ending austerity.”

Jeremy Corbyn wants a general election to resolve the Brexit deadlock in Parliament and is expected to call a no-confidence vote in the Tory Government within days.