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Sterling would rise if the opposition Labour Party won an election, the party's finance policy chief John McDonnell told the Sunday Times, playing down the idea that a socialist government could trigger capital flight.McDonnell, right-hand man to Labour leader Jeremy Corbyn and would-be finance minister in a Labour government, said markets would not panic over his plans for new taxes, nationalizations and large-scale investment.Ever since veteran socialist Corbyn was elected leader of Labour in 2015, many investors, banks and economists have warned that his plans could introduce uncertainty and disruption for the world's fifth-largest economy.
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