John McDonnell Stands Down from Shadow Cabinet

John McDonnell, the Shadow Chancellor of the Exchequer, has resigned and confirmed that he doesn’t intend to rejoin it under a new leader. Labour suffered their worst loss since 1935 and Jeremy Corbyn, the leader, confirmed that he’d stand down in the new year.

McDonnell said in an interview with the BBC:

“I won’t be part of the shadow cabinet. I’ve done my bit. We need to move on at that stage, with that new leader, and I think we will be in a position to learn lessons, listening to people and constructing a broad coalition right the way across the country.”