And you wonder why I could not work for him?
Independent central banks are about giving bankers control; they are about subscribing to the power of markets; they represent a belief in monetary and fiscal policy; they indicate a lack of faith in government. Most of all they represent a failure to believe in democracy, accountability and the duty of a politician to decide.
What John McDonnell is going to do is endorse Ed Balls and this whole approach to economic management.
I can’t, and won’t.
But this is a lesson to all those who think McDonnell is the power behind some new left wing vision for the UK: he isn’t, and he never will be.
The answer to that first question being that the pay package/peerage offer wasn’t good enough.