Election: McDonnell slams Rees-Mogg's 'arrogance' over Grenfell
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Shadow chancellor John McDonnell today announced Labour's plans for the NHS at a Labour campaign event in London as election campaigning gets underway. Labour has pledged to outspend the Tories by investing an additional £26 billion in the NHS to rebuild "crumbling" hospitals and improve patient care if the party wins the General Election.
Mr McDonnell said his party was offering an annual average 4.3 percent real-terms increase in health spending over the next four years.
These funds would be used to decrease waiting times and drive up performance.
Mr McDonnell was joined by shadow health secretary Jonathan Ashworth as he explained how Labour would take the total Department of Health and Social Care budget to £178 billion in 2023-24.
Mr Ashworth said the investment plans, which were "more than the Tories are offering", would mean an increase in funding for primary and secondary care services.
John McDonnell salary: What is John McDonnell’s net worth? (Image: GETTY)
John McDonnell salary: Mr McDonnell and Jonathan Ashworth unveiled Labour’s plans (Image: REUTERS)
At the end of September, Mr McDonnell delivered a keynote speech which announced several new policies Labour would back should they gain the majority in the next election.
These included reducing the working week to 32 hours with no pay cuts and banning zero-hours contracts.
How much does John McDonnell earn? What is his net worth?
Mr McDonnell's net worth is unknown, however, his salary is on the record due to his position.
John McDonnell salary: Mr McDonnell outlined how spending on the NHS would increase under Labour (Image: GETTY)
In the 2016/17 tax year, Mr McDonnell received a total income of £87,353 – including MP's pay and pensions – and paid a total of £24,099.20 in tax.
According to the Labour Party, John receives a small dividend on modest savings in a credit union he helped to found in his constituency.
A statement from the 2016/17 report said: "He holds no other paid positions, stocks or shares, benefits from no trust funds (including blind trusts), did not receive any income from property, and carried out no other paid work during this period."
Mr McDonnell issued proposals earlier in September which would allow private tenants the right to buy their homes at 'reasonable' prices like council tenants.
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John McDonnell salary: Mr McDonnell’s total income in 2016/17 was £87,353 (Image: GETTY)
However, this would penalise the 2.7million private landlords living in Britain.
His proposals have been seen as controversial by some as Mr McDonnell reportedly has a £760,000 property in Hillingdon, West London and a second home, a riverside bungalow in Norfolk.
The MailOnline reported Mr McDonnell paid £135,000 in cash in December 2013 for the two-bedroom bungalow.
A neighbour of Mr McDonnell told the Daily Mail: "It seems a bit hypocritical and duplicitous for him to be targeting landlords when he and his wife have their own second home.
"He and his wife just keep it for their families. They come up here quite regularly for weekends, especially in the summer.
"McDonnell's son finished university last year and came up with three or four friends for a week.
"They created bedlam, making a lot of noise and jumping in the river. They even bashed his boat into the staithe at Potter Heigham.
"I know one of the neighbours called McDonnell's wife to tell her what the hell was going on at their property."
Mr McDonnell does not rent his Norfolk property out, and a spokesman for Mr McDonnell told the MailOnline: "the hut is used by his family for holidays where he enjoys a great time sailing with his children and grandchildren."
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