JEREMY CORBYN ADVOCATES RE INDUSTRIALIZATION IN A DIGITAL AGE

“Building an economy for the future requires bold ambition. A new economics,” Corbyn says.

“We want to see a break with the failed economic orthodoxy that has gripped policy makers for a generation. And set out a clear vision for a Labour government that will create an economy that works for all, not just the few.

“We want to see a genuinely mixed economy of public and social enterprise, alongside a private sector with a long-term private business commitment, that will provide the decent pay, jobs, housing, schools, health and social care of the future.

“Labour will always seek to distribute the rewards of growth more fairly. But to deliver that growth demands real change in the way the economy is run.

“Only an economy that is run for all wealth creators - the technicians, entrepreneurs, designers, shopfloor workers, and the self-employed - and that puts them in the driving seat is going to deliver prosperity for all.”

Economists Ha-Joon Chang and Jonathan Portes along with Adam Marshall, acting director general of the British Chambers of Commerce, and Unite general secretary Len McCluskey are all set to attend the conference.

Labour wants to see the “re-industrialisation of Britain for the digital age” through public backing driven by a national investment bank, Corbyn says.

“The new economics is also about economic justice. People expect companies that trade in this country, and people who live in this country, to pay their tax in this country. It funds our public services.

“Aggressive tax avoidance and tax evasion are an attack on the NHS, on schools, our care for elderly and disabled people and the social security system that prevents poverty, homelessness and destitution.

“We believe that economic justice and economic credibility must go hand-in-hand, which is why all our plans are underpinned by Labour’s fiscal credibility rule agreed following discussions with the world-leading economists on our economic advisory council.

“Our rule makes clear that we will ensure solid public finances, while rejecting the politically motivated austerity that is strangling investment and choking prosperity.

“We have the opportunity to build a fairer, more equal, more prosperous economy. We must be bold and ambitious in our approach.”