Corbyn backtracks on promise to end benefits freeze

The party thinks these and other measures will raise £6.4 billion from income tax and £19.4 billion from corporation tax.

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"It will change our country", he said in his speech at the presentation of the manifesto in Bradford in northwest England.

Critics say the move leftwards stirs memories of the party's 1983 manifesto, described then by a Labour lawmaker as "the longest suicide note in history" for helping the Conservatives.

"They are the majority for change".

In the intervening days, the proposed nationalisation of the energy firms and railways has grown even more ambitious, and it now extends to water companies, which Labour would take into public ownership.

The bank idea is in the manifesto, but there's no mention of that £100bn.

McCluskey set what many will see as a new, historically low benchmark on which the success of the campaign will be judged.

Noting that the manifesto says the Fund "will invest £250 billion over ten years", Conway commented: "That will raise the national debt an bad lot".

But it's on the long-term spending - which Labour have exempted from their Fiscal Credibility Rule - where the numbers are trickier. Labour's policy could raise something like the £4.5bn per year it expects, but it could also raise nothing'.

Research published yesterday, May 15, by Novara Media suggested that the youth vote has the potential to swing the election result in Labour's favor.

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"I am confident that once the British people get the chance to study the issues, l ook at the promises, t hey will decide that Britain has been held back by the Tories".

JEREMY Corbyn sought to put education at the heart of Labour's election pledges as he unveiled its manifesto at the University of Bradford yesterday.

Businesses will bear the brunt of paying for Labour's spending plans, with Corporation rising to 26 per cent, a hike they hope will bring in almost £20bn a year.

"People want a country run for the many not the few". Although there are no clear timeframes for when Labour would start work on these projects, let's assume that much of this spending would be carried out within the next decade. He's dropped the 2015 Mansion Tax plan, but lowered the tax thresholds for top earners.

Unlike Miliband, he's guaranteed no income tax rises for 95 per cent of people.

It seems unlikely this can remain the policy going far into the future.

Leftwing leader of country's largest opposition party promises to scrap tuition fees and nationalise key services.

"The next Labour government will reverse privatisation of our NHS and return our health service into expert public control". Both promised to increase the core schools budget in line with inflation. Presumably, this means they will boost the amount spent per pupil above inflation.

Other pledges in the Labour manifesto include building one million new homes and adding four national holidays to the calendar.

Ban "zero hours" contracts to ensure workers have a guaranteed number of hours each week, and restore sectoral collective bargaining for trade unions.

Mr Corbyn is trying to channel the same instinct that led to many core Labour voters backing Brexit, refashioned as a reason to vote for a radical Labour offer. Unlike the Conservatives, it won't accept leaving the European Union without a damage-limiting deal.

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