Labour Shadow Chancellor Defends Fiscal U Turn

The transcript discusses the Labour Party's reversal on supporting George Osborne's fiscal charter, led by Shadow Chancellor John McDonnell. Initially backing the charter, McDonnell changed his stance due to the impact on steel workers and the global economy. The decision caused confusion and criticism within the Labour Party, highlighting issues of competence and communication. McDonnell's understanding of the charter and its implications on investment were questioned. The situation reflects challenges in party leadership and the need for clear, consistent policies.

What was the reaction of Labour MPs to the decisions made by John McDonnell?

What challenges does John McDonnell face in Parliament regarding the fiscal charter?