Awkward questions after shadow chancellor warns of run on pound

Jeremy Corbyn has defended shadow chancellor John Mcdonnell’s decision to prepare for a run on the pound after Labour takes power.

The shadow chancellor told a meeting at Labour’s annual conference in Brighton that the party had to be ready for an “assault” by opponents in the City, media and parliament.

Giving details of preparation work, Mr Mcdonnell said Labour had to “scenario plan” with experts to talk through “what happens if there is a run on the pound”. And he warned that the party must be ready “if they come for us”.

Responding to the comments, Mr Corbyn said: “What he is doing is saying we look at all scenarios that may affect a Labour government.”

He said there had been a run on the pound “for the past two years.”

Mr Corbyn was forced to deny Labour is a “nasty party” as members backed new rules on antisemitism.

The Labour leader insisted anti-semitic language is “completely at odds with the beliefs of this party” after a speaker at a fringe event was reported to have said people should be allowed to question the Holocaust. The Labour leader of Brighton Council, Warren Morgan, threatened to stop the party holding gatherings in the city, saying he was very concerned at “the anti-semitism being aired publicly”.

Mr Corbyn also clashed with Jon Snow as the Channel 4 News presenter pressed him to condemn Venezuelan president Nicolas Maduro over human rights breaches.

The Labour leader angrily rejected suggestions that his condemnation of violence on all sides was reminiscent of Donald Trump’s claim there was blame “on many sides” over clashes at a far-right rally in Virginia.