Labour's John McDonnell says UK economy requires 'revolution'

Labour is planning a "revolution" for the UK economy, John McDonnell has told the BBC.

The shadow chancellor was speaking to Newsnight for a series of reports to mark 40 years since the election of Margaret Thatcher.

He said he saw parallels between today and 1979 when Mrs Thatcher swept to power in a major political sea-change.

"Things aren't working for people, so they're looking for change," Mr McDonnell said.

Asked whether Labour's plans represented evolution or revolution he said: "OK it will be a revolution.