Dr Adam Marshall, Acting Director General of the BCC, said:

Labour MP Jess Phillips - a vocal critic of Jeremy Corbyn - is being interviewed at the Times fringe event.

The World at One
BBC Radio 4

Image source, Getty Images

Interviewed on the World at One, shadow foreign secretary Emily Thornberry - fresh from her conference speech - is asked about her vision for Brexit. She says the issue needs to be discussed by Labour MPs "in an atmosphere of trust" to arrive at a "common position for the party".

Pushed on her own views on the balance between free movement and single market access, she says: "I think that my preferred option is to look to see if we can find some workable management of migration of EU nationals post Brexit" but adds that "we have to be careful about risking our access to the single market".

The World at One
BBC Radio 4

Andy Silvester, of the Institute of Directors, says elements of John McDonnell's speech will be welcomed by the business community, but warns it also contained too much of the "protectionist old tunes of the 1970s".

Gavin Stamp
BBC political reporter

Unite boss Len McCluskey drew big cheers in the hall earlier when he called on those with “no stomach for the fight to depart the battlefield”.

Bernadette Fisher, a Labour member on Canterbury City Council, applauded the Unite boss vigorously, remarking that he “never missed an opportunity to quote either Shelley or Shakespeare”.

She told me: “I like his clarity. I like the fact he set out the case for the post-relection affirmation of Corbyn.”

She said the Unite leader hit the nail on the head in emphasising that power and principle must go hand in hand. “The Blair government did a lot of good things but it went awry – it wasn’t just about Iraq.”

Her colleague Alan Baldock - also a council member - said it was “disappointing” that the Labour leader of Portsmouth Council, John Ferrett, had quit the party, saying Labour “drew its strength from being able to share different ideas and resolve disagreements”.

Reacting to Mr Ferrett’s departure, Ms Fisher said:

Following a report in the Sun, external that a cross-party group in the House of Lords "will try and throw out 200 peers and permanently slash its size by a quarter", long-time critic of the upper House, John McDonnell, seemed to indicate a change of heart in his conference speech.

The paper reported that the campaign to cull peers is being led by Tory peers Lord Cormack and Lord Norton of Louth.

The Liverpool-born John McDonnell recalls John Lennon as he calls on Labour to "imagine again" a country in which "prosperity is shared by all".

That brings his speech to an end and a standing ovation follows.

"The next Labour government will be an interventionist government," John McDonnell says. "We will not stand by like this one."

The shadow chancellor promises an industrial strategy, and a "renaissance in manufacturing" while an "entrepreneurial state" will "work with wealth creators".

The World at One
BBC Radio 4

Immigration was seen as a major reason why British voters chose to leave the European Union. World at One presenter Martha Kearney spoke to people at a supermarket around the working class area of Toxteth in Liverpool to see what they thought of Labour's message on immigration.  

There's loud applause when John McDonnell says a Labour government would repeal the Trade Union Act in its first 100 says in office.

The shadow chancellor praises the last Labour government's introduction of a national minimum wage and says a future Labour government "will write into law a real living wage" of over £10 per hour.

John McDonnell promises "no more Philip Greens" under a Labour government, which would legislate to prevent companies "taking on excessive debt to pay out dividends to shareholders".

Labour would also ensure "every takeover proposal has a clear plan in place to pay workers and pensioners", the shadow chancellor adds.

Energy co-operatives will break "the monopoly of the Big Six" energy companies, Mr McDonnell says, promising "a renaissance in co-operative and worker ownership".

John McDonnell says investment decisions have been "taken by Whitehall and the City" for too long, resulting in under-investment.

The regions should be able to "take back control", he says, while a national investment bank will provide funding, backed up by regional development banks.

"Patriots pay their taxes," John McDonnell says.

"We will ban tax-dodging companies from winning public sector contracts," the shadow chancellor says, while all UK overseas territories would be required to produce information on "where the tax dodgers hide their money".

The shadow chancellor promises that HMRC would have the resources to crack down on "the tax avoidance industry".

"We will support access to European markets for the financial sector," John McDonnell says, "but 2008 must never happen again".

He warns the financial sector there must be no return to what he calls a "casino economy".

He adds that Labour will oppose TTIP, "deregulation and privatisation" and adds:

"Our economy is failing on productivity because the Tories are failing to deliver the investment it needs," the shadow chancellor says.

"Wages are still lower than before the global financial crisis of 2008," John McDonnell adds, while many are on zero-hours contracts and what he describes as "bogus self-employment".

He says that accepting the EU referendum vote to leave does not mean accepting "what the Tories serve up" on Brexit.

Labour will work with "socialist and social democratic colleagues across Europe", Mr McDonnell adds, to create "a new Europe".

John McDonnell makes his keynote address to the Labour conference.

"Now the leadership election is over, I tell you, we need to become a government in waiting," he says.

Energy Minister Jesse Norman says Labour's pledge to ban fracking shows it is "not a credible alternative government".