This is more like it. From the BBC:
“The Tories have offered a Right to Buy, Labour would seek to better this. We’d be creating a new Right to Own,” he [John McDonnell] said in a speech in Manchester. He said the “biggest hurdle” facing co-ops and other small businesses was getting initial funding from high street banks.
“No other major developed economy has just five banks providing 80% of loans. We’d look to break up these monopolies, introducing real competition and choice. Regional and local banks, prudently run and with a public service mandate, have to be part of the solution here.”
Mr McDonnell is also considering adopting the Italian government’s policy of offering funding to help employee-owned enterprises to get off the ground.
“With consortium co-operatives providing an effective means for new businesses to share and reduce costs, we’d look to support these at a local level, working with local authorities, businesses and trade unions,” he said.
