Jeremy Corbyn has revealed plans for a huge national spending splurge, funded by "expanding the economy" and tackling tax avoidance

 
Mark Sands
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Labour Leader Jeremy Corbyn Holds Leadership Rally
Speaking in Dagenham today, Corbyn unveiled his "10 pledges" for Britain under his Labour leadership (Source: Getty)

Labour leader Jeremy Corbyn has unveiled plans for a huge national spending splurge, topped by the construction of a million new homes.

Asked today how he would fund the work, Corbyn said money would be generated by "expanding the economy" and tackling tax avoidance.

Little detail has been revealed on the plans, but the current Labour leader said the new homes would be built over five years, including at least half a million council homes.

Asked how Corbyn will achieve the construction target, a campaign spokesman told City A.M.: "Today was a framework for policies which will be fleshed out during the course of the campaign."

The promise is a dramatic escalation on previous manifesto offers from both the Conservatives and Labour.

The Tories went into last year's election guaranteeing only to build 200,000 starter homes, while Labour promised only to make sure that 200,000 homes a year were being built by 2020.

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The programme will come alongside a promise to invest £500bn in infrastructure, manufacturing and industries with funds generated by a National Investment Bank.

That investment bank will also provide discounted loans for zero carbon homes.

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Corbyn also reiterated his pledge to protect employment rights, moving to bar zero hours contracts, and echoed Owen Smith's proposal to boost the roles of trade unions in the workplace.

The Labour leader also joined the growing numbers of politicians promising to look at executive pay, and promised “progressive” tax reform.

As well as underlining his commitment to nationalising railways, Corbyn further vowed to pick up Andy Burnham's ideas of bringing social care under the NHS, offered universal public childcare, and promised to protecting the environment.

“These are my pledges for a Labour government to transform and rebuild Britain- transforming and rebuilding Britain physically, socially and morally,” Corbyn said.

“Labour will ensure that no one and nowhere is left behind. With the talent and the skill in this country, Britain can achieve so much more.”

Corbyn's 10 Pledges in Full

1) Full employment and an economy that works for all

2) A secure homes guarantee

3) Security at work

4) Secure our NHS and social care

5) A national education service, open to all

6) Action to secure our environment

7) Put the public back into our economy and services

8) Cut income and wealth inequality

9) Action to secure an equal society

10) Peace and justice at the heart of foreign policy

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