John McDonnell calls for wealth tax to pay for coronavirus measures

Shadow chancellor says the cost need to be borne by those with the broadest shoulders

• McDonnell: out of the crisis, a new kind of society must be born
• Coronavirus - latest updates
• See all our coronavirus coverage

John McDonnell has called for a wealth tax on the richest in society and a windfall levy on the banking industry to fund the government's emergency response to the coronavirus crisis, as the social and economic costs of the outbreak rapidly mount.

In his final act as shadow chancellor before Labour elects a new leader on Saturday, McDonnell said the rebuilding job for Britain after Covid-19 should prioritise fully funded, publicly owned and democratically controlled public services.