John McDonnell John McDonnell John Martin McDonnell (born 8 September 1951) is a British Labour Party politician who was appointed the Shadow Chancellor of the Exchequer in September 2015. He has been the Member of Parliament (MP) for Hayes and Harlington since the 1997 general election. He has served as chair of the Socialist Campaign Group in Parliament and the Labour Representation Committee, and was the chair of the Public Services Not Private Profit Group. He is also parliamentary convenor of the Trade Union Co-ordinating Group of eight left-wing trade unions representing over half a million workers. McDonnell attempted to stand for
How to Pay for the War: A Radical Plan for the Chancellor of the Exchequer that would, in part, be legislated in the Budget of Sir Kingsley Wood, Chancellor of the Exchequer. The deferred pay became a system of post-war credits which were progressively repaid after the war, albeit at reduced value. Keynes devotes much attention to price controls, proposing a number of measures to control (but not planning to eliminate) inflation, measures including deferred pay and forced savings. Most of the book, Chapters IV to X, is dedicated to the problems of resource allocation and price control. The book is an exercise in Keynesian macroeconomics, a prime example of Keynesian analysis and technique, by