Theresa May lies claiming that austerity is over at her Rich Scum party speech.
“I think we are moving to a position now where it is just not sustainable. It will have to go.”
Mr McDonnell accused Prime Minister Theresa May and the Tories on Saturday of lying in their claim to the public that austerity has ended.
The shadow chancellor, who spoke at an anti-austerity rally in Pudsey, Leeds, told the Morning Star: “We will be holding the government to account. This is the third time in two years the government has announced the end to austerity.
“The Institute for Fiscal Studies has said that 75 per cent of welfare cuts are still to come, so if they are serious about ending austerity, in his coming budget Philip Hammond should get up and announce the end of cuts to welfare.
“He clearly will not — and we will be exposing what is effectively a lie.
“Three times they have announced the end, yet there are still cuts coming to welfare benefits, school budgets and local authority budgets in particular.”