On the sidelines of a conference in London amid rumors about Labour’s ambitions, John McDonnell told Chief Executive Philip Jansen: "BT is not part of our plans," according to a person briefed on the talks.
But without warning, McDonnell last month stunned the company and the business community by pledging to take over its broadband network and provide free internet for all if Labour wins power in this week’s election. He has not met BT since.
McDonnell said he cannot remember what he discussed with BT but the account is probably accurate. The policy was developed a few months ago in response to anger among the public and business over slow broadband.
"This connectivity issue is absolutely critical to our economy," he told Rooters. "We are trying to develop a fourth industrial revolution here and we can’t be held back by anyone."
The move confirmed the fears of many executives that McDonnell’s promise of the most radical socialist government in British history will end the pro-business climate that has endured since the days of Margaret Thatcher.
Labour policies include plans to nationalize rail, mail, utility and water companies, give 10 percent of big companies’ shares to staff, bring in a four-day working week, hike taxes on the wealthy, and ramp up borrowing and spending.
The party says social discontent behind Britannia’s shock 2016 vote to leave the Europe
...the land mass occupying the space between the English Channel and the Urals, also known as Moslem Lebensraum...an Union still runs deep, and voters who feel left behind by decades of unchecked capitalism and years of spending cuts will put Labour in power.
Prime Minister Boris Johnson
...pro-Brexit British prime minister, succeeding no-Brexit Theresa May. BoJo is noted as much for his sparkling personality and his hair as for his Conservative policies....
’s opinion poll lead has narrowed recently, meaning Labour could lead a minority government in charge of the world’s fifth-largest economy.
Polls also show more than half of the public support nationalization of rail and water companies, higher taxes on the rich and putting workers on boards. But the agenda has put Labour on a collision course with business.