November 15, 2019 / 8:36 AM / 2 months ago

Labour's McDonnell says broadband plan is the limit of nationalization plans

FILE PHOTO: Shadow Chancellor John McDonnell speaks at an election campaign event in London, Britain November 13, 2019. REUTER/Toby Melville/File Photo

LONDON (Reuters) - A plan to nationalize parts of BT to provide free broadband to everyone in Britain marks the extent of the opposition Labour Party’s nationalization policy, its finance spokesman John McDonnell said on Friday.

Labour has previously pledged to nationalize power networks, Royal Mail, rail and water companies, but McDonnell said it would not nationalize the whole of BT.

“We’re not taking over all of BT, we’re simply taking over Openreach, the BT technology and some elements from within BT itself,” he told BBC’s Today radio program.

Asked if Labour was going to nationalize other companies, McDonnell said “No we’re not,” and asked if the plan represented the limit of Labour’s ambitions on nationalization, he said “Yes it is.”

Reporting by Alistair Smout; editing by Guy Faulconbridge

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