John McDonnell: £150bn fund plan for ‘human emergency’

Shadow Chancellor John McDonnell has outlined plans for a £150bn social transformation fund to be spent over five years under a Labour government.

During a speech in Liverpool, he said it would deal with the “human emergency created by the Tories”. The money would be spent on upgrading or replacing public services such as schools, hospitals, care homes and council housing.

Earlier, Chancellor Sajid Javid attacked Labour’s “fantasy economics”.

Read more: Labour promise billions for public services