Labour policies 'have been tried and failed'published at 09:31 British Summer Time 2 October 2017
Today Programme
BBC Radio 4
Policies being promoted by the Labour Party have been "tried before and they've all failed before", according to Chancellor Philip Hammond.
He added that - with a few exceptions - "the whole world has embraced the market economy", which he describes as "the best model ever invented to deliver prosperity to our people".
Mr Hammond's defence of the market economy follows similar comments by Theresa May in a speech last week, which was seen as a response to Jeremy Corbyn's speech to the Labour conference.