The Shadow Chancellor refused to deny he wants to "overthrow capitalism" under a Labour government.
John McDonnell told talkRADIO he did not regret writing that his pastimes include 'fermenting the overthrow of capitalism' in the biographical database Who's Who.
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Mr McDonnell told talkRADIO: "He (Philip Hammond) doesn't get a joke does he really? I actually put fermenting, which is a brewing joke. And he doesn't even get a joke. He hasn't got much of a sense of humour I'm afraid. Well, actually yesterday, I thought it was bizarre, toilet gags yesterday, I thought that was a bit odd."
'Transform the economy'
Asked whether he regretted his remarks about overthrowing capitalism, Mr McDonnell replied: "Not at all, I'm going to transform our economy".
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As for whether that transformation would include 'overthrowing capitalism', Mr McDonnell said: "It will be a transformed economy. Where we will have a radically fair economy, radically more democratic, radically more equal."
He was then asked again whether that would mean overthrowing capitalism, and responded: "It will be transforming our economic system."
In the Budget statement yesterday Chancellor Philip Hammond said: ‘The Right Honourable Member for Hayes and Harlington [John McDonnell] lists ‘fermenting the overthrow of capitalism’ as his pastmine. Mine is reinvigorating capitalism for the digital age.’
Earlier this year Mr McDonnell told the BBC overthrowing capitalism is his job, before saying he wanted to "radically challenge the system as it now is".