John McDonnell: Theresa May's Brexit deal risks recession 3 years ago

John McDonnell: Theresa May's Brexit deal risks recession

The shadow chancellor of the exchequer, John McDonnell, warned the government's approach to leaving the EU could have dire economic consequences


John McDonnell says Theresa May's Brexit deal risks plunging the UK into recession, in an exclusive interview with JOE.

The shadow chancellor of the exchequer warned there would be a "direct impact" on living standards and livelihoods.

McDonnell delivered the warning in an interview with JOE for its series Outside Westminster.


LIVERPOOL, ENGLAND - SEPTEMBER 24: Labour Party leader Jeremy Corbyn (L) sits with Shadow Chancellor of the Exchequer John McDonnell ahead of McDonnell's speech to delegates in the Exhibition Centre Liverpool during day two of the annual Labour Party conference on September 24, 2018 in Liverpool, England. Labour's official slogan for the conference is ?Rebuilding Britain, for the many, not the few?. (Photo by Leon Neal/Getty Images) John McDonnell warned of severe economic consequences for the government's approach to Brexit (Credit: Leon Neal)

John McDonnell said: "I’ve been talking to people like the CBI, the TUC, both sides of industry, they’re all saying the impact upon the economy will mean that people’s living standards will be directly impacted upon, their livelihoods will be threatened and we will lose jobs.

"MPs are starting to wake up to the fact that Theresa May’s deal, and the no deal, is completely unacceptable.


"That’s why you’re seeing MPs working together on a cross-party basis either to get the best deal we can or then to say, let’s go back to the people.

"You're talking about predicted GDP growth being held back. It might not be an overall recession in the technical term but if you're losing your job it's a recession for you, and it's a recession for your family."