The leader of Britain's Labour Party Jeremy Corbyn attends a housing policy event in London, April 19, 2018. REUTERS/Henry Nicholls
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LONDON: Britain's shadow chancellor John McDonnell offered a new pact with the financial services industry on Thursday: higher taxes in return for a seat at the policy making table if Labour wins the next election.With opinion polls showing Labour level with Prime Minister Theresa May's Conservatives, finance executives are increasingly focused on what a government under left-wing leader Jeremy Corbyn and McDonnell could mean for the City if the next scheduled election in 2022 went their way.Despite his previous antipathy towards bankers, McDonnell is trying to win the support of financial leaders just as former Labour leader Tony Blair helped prepare his party for power with what was dubbed the "prawn cocktail offensive" in the 1990s.In return, McDonnell said Labour government would offer the finance sector a chance to influence policies.
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