Jeremy Corbyn will today reveal 10 pledges to “rebuild and transform” Britain amid claims from his leadership challenger that the party could be finished under his rule.
In a launch of his policy platform today in Dagenham, Corbyn will map out how he will fix the “broken” economy and spread the prosperity that a “few enjoy” under a plan for £500bn investment.
It comes as Labour trails the Tories by 14% points in the polls amid party in-fighting.
Speaking to the Huffington Post UK, Corbyn’s rival Owen Smith said he believes there is “every likelihood that the party will split if Jeremy wins this election”.
Today, Corbyn is to respond to policies put forward by Smith, including a higher minimum wage - or “real living wage”.
Corbyn, who has toured the country and drawn thousands to his rallies, will say:
“The prosperity that a few enjoy is not shared by the many. Our economic model is broken. But there is immense potential in the skills and talents of our people, and huge opportunities ahead of us in science, technology and culture. We could all be living richer lives in a sustainable, more prosperous and more caring society.
“Labour will pledge to rebuild and transform Britain with a bold £500bn programme of investment. We will deliver the transport and communications infrastructure a modern economy needs, not just in those places where the economy already works but right across the whole country.
“We will back this up with new institutions able to deliver the investment our communities so desperately need. A new £250bn National Investment Bank, backed up with a network of regional development banks, will put power to determine their own futures back into the hands of those places outside of Westminster and the City of London.”