John McDonnell, the lawmaker seeking to become the U.K.’s first avowedly socialist finance minister in half a century, wants to rewrite the economic rulebook
LONDON—As the U.K. likely heads for its third nationwide election in four years this fall, the main opposition Labour Party is pushing plans to extend the state’s reach into the economy on a scale not seen in decades. It wants to rewrite a rulebook that it believes created the economic hardship that fueled the Brexit vote.
Labour lawmakers and activists gather this weekend to start their get-together to discuss policy and settle on a new election manifesto. The party has previously pledged to renationalize railways, water...
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