Labour Set Out a New Economic Strategy

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Jeremy Corbyn, the Leader of the Opposition, and John McDonnell, the Shadow Chancellor, have unveiled Labour’s new economic strategy at an event held in London.

In two substantial speeches the pair out-lined Labour’s new focus on tackling inequality, building more homes and increasing opportunity.

In his speech Corbyn said:

“We need a Labour government that will put investment, productivity and sustainable growth first, alongside a 21st century industrial policy. That is how we will provide the economic security that the Tories are failing to deliver. Security and investment in jobs and skills. Security and investment in housing. Security and investment in our NHS and our schools. And, yes, security and investment in our public finances too”.

In the speech made by McDonnell, he said:

“From the ground up, we can start to transform how capitalism in Britain works. Previous Labour governments were content to only think about how to redistribute income. Today, technological change means we have to think more closely about ownership. I’ve spoken before of moving beyond the Tory Right to Buy and creating a Labour Right to Own. This can be at the centre of our offer to Britain. A radical decentralization of economic power and authority back to working people and local communities”.