John McDonnell admits U-turn on fiscal charter vote might confuse Labour MPs

Shadow chancellor says he will further clarify party's position on George Osborne's proposal to change budgetary rules during Commons debate

The shadow chancellor, John McDonnell, has admitted that Labour MPs might be confused by his changing stance on a key Commons vote on Wednesday evening, but insisted they would not rise to George Osborne's call for "moderates" to vote with the government.

McDonnell said he would clarify Labour's position further in the debate on Osborne's proposed fiscal charter - a measure that would bind future chancellors to run a surplus in normal economic times. The shadow chancellor had initially said Labour would support the measure, but at a meeting of the parliamentary Labour party on Monday evening he informed MPs that he wanted them to vote against it.