Jeremy Corbyn's campaign launch: Here's what he said about business

James Nickerson
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Jeremy Corbyn Launches His New Leadership Campaign
Corbyn wants unity in the Labour party after the leadership election (Source: Getty)

Labour leader Jeremy Corbyn delivered a confident speech today as he launched his campaign to retain his place at the helm of the party.

In a good mood, Corbyn announced that he would fight to rid the UK of its 21st century "five ills" of inequality, neglect, prejudice, insecurity and discrimination.

His speech included a dig at the Conservatives, a dig at some in his own party and an appeal that the party should rally around either candidate who wins - which is extremely likely to be him.

Equality pay audits

The campaign launch included one firm policy: Future Labour governments will require firms that employ more than 21 people to publish equality pay audits. Former Prime Minister David Cameron made this compulsory for firms with more than 250 staff.

But Corbyn said more - these were his remarks about the economy and business.

Equality and Human Rights Commission

Corbyn also said the party is "also committing to fund the Equalities and Human Rights Commission to monitor employers’ equality pay audits, to take action where required to eradicate discrimination; and to fine employers that do not provide them."

This is a non-departmental public body that is responsible for the enforcement of equality and non-discrimination laws.

Fiscal charter

Corbyn said the long-term economic plan is dead and that austerity had been taken too far. Nothing new from Corbyn here, but there have been developments in the Conservative Party.

"From a year ago when Labour was too cautious in criticising cuts. Now, you’re hard-pressed to find even a Tory to defend it as one fiscal target after another has been ditched first by Osborne, and now by Theresa May. The long-term economic plan is dead," Corbyn said

"Most people now believe that the government’s cuts are both unfair and bad for our economy."

It may not be the case, with many groups still stating the deficit needs to be brought down, but May did yesterday say that surplus wouldn't be achieved in this government as she loosened the country's purse strings.

National Investment Bank

Stated by McDonnell earlier this week, Corbyn also pushed out his message on the National Investment Bank once again.

"It is Labour’s shadow chancellor John McDonnell who led the way and who earlier this week made the case for a National Investment Bank and a network of regional investment banks to redistribute wealth and power."

The National Investment Bank would invest in new large scale housing, energy, transport and digital projects. The Bank of England would hold the debt.


"It cannot be right that in some parts of Britain you earn more than in other parts of Britain."

A policy a week

Over the next couple of months the Labour Party will be "setting out new policies each week, on different aspects of our society - on human rights, on environment,e on transport, on housing, many many other issues".

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