The Labour Party Conference Continues

John McDonnell outlines Labour's economic plan to reduce the deficit without austerity, focusing on taxing big companies and cutting corporate welfare. The plan includes reviewing economic institutions like the Bank of England and HMRC. While the speech received a positive response in the hall, business lobbyists expressed concerns over the lack of detail. The public reaction was mixed, with some seeing it as a fresh change. McDonnell concluded with a call for unity within the Labour Party.

What is the overall tone of McDonnell's speech according to the text?

What challenges does McDonnell acknowledge regarding his economic plans?