Labour's McDonnell says broadband plan is the limit of nationalisation plans

FILE PHOTO: Shadow Chancellor John McDonnell speaks at an election campaign event in London, Britain November 13, 2019. REUTER/Toby Melville

LONDON (Reuters) - A plan to nationalise parts of BT BT.L to provide free broadband to everyone in Britain marks the extent of the opposition Labour Party's nationalisation policy, its finance spokesman John McDonnell said on Friday.

Labour has previously pledged to nationalise power networks, Royal Mail, rail and water companies, but McDonnell said it would not nationalise the whole of BT.

“We’re not taking over all of BT, we’re simply taking over Openreach, the BT technology and some elements from within BT itself,” he told BBC’s Today radio programme.

Asked if Labour was going to nationalise other companies, McDonnell said “No we’re not,” and asked if the plan represented the limit of Labour’s ambitions on nationalisation, he said “Yes it is.”

Reporting by Alistair Smout; editing by Guy Faulconbridge