John McDonnell, the UK's shadow chancellor, has been a frequent visitor to the City of London over the past two years. As part of his “tea offensive”, he talks to banks and asset managers about his plans to change the structure of the economy should his party win the next general election. He is seeking to persuade them that his changes are less extreme than they may have feared.
Mr McDonnell says his plans are intended to bring stability, to promote and direct long-term investment, and to reflect fairness and stimulate worker loyalty. That stability will be welcomed in the City after the chaos of Brexit has subsided, he claims.
