UK Labour Party's McDonnell attacks instability in Westminster

John McDonnell, the man who would be Britain's finance minister if the opposition Labour Party was in power, is speaking at a Reuters Newsmaker event.

Below is a selection of his comments.

ON THE BREXIT INSTABILITY IN WESTMINSTER

"We just can't go on like this. We just cannot go on with this instability, uncertainty that there is in government, day by day and sometimes hour by hour."

ON SUPPORT FOR MAY'S BREXIT DEAL OR NO DEAL

"What's coming out of it now, I think, is a lowest common denominator approach which is this at the moment a majority, by the looks of it, not to support the prime minister's deal that she's putting forward although that might change. It's difficult to predict, but also I think an overwhelming majority to oppose anything that smacks of being no deal."

ON WHAT HAPPENS IF PARLIAMENT REJECTS MAY'S PLANS

"Then we could be into a situation of a war of attrition within parliament of amendments to legislation taking place and uncertainty continuing."

ON HOW MANY LABOUR REBELS HE EXPECTS ON BREXIT VOTE

"That's a good question. There were five who voted with the Conservatives last time...they said no, well, we'll support the Conservatives now but not necessarily in the future... I think we'll hold our side now. I really do, and we have done on the votes this week."

ASKED IF HE IS A MARXIST

"I'm a socialist. I'm trying to rehabilitate the reading of Capital. I am a socialist. You just have to accept the roots of the Labour Party which stems from right the way back to Robert Owen and Cooperation and William Morris... and a raft other thinkers. But you have to insert Marx into that as well because I think it's one of the best analyses of how capitalism works."