Brexit gives authorities power to favour British companies says Corbyn

BREXIT COULD give Whitehall and councils more power to support British firms bidding for public sector contracts, Jeremy Corbyn said.

The Labour leader said that while leaving the European Union “presents many challenges” for Britain, it could also allow changes to procurement rules in order to favour local suppliers and jobs.

Mr Corbyn has also demanded sweeping changes to the way almost £200bn is spent in the private sector.

He wants to see firms bidding for contracts to be forced to recognise trade unions and curb boardroom excess by moving towards a 20-1 pay ratio between high and low earners.

The Labour leader said: “While Brexit presents many challenges to Britain, it can give us more powers to encourage best practices and support new and existing businesses and industries in Britain.

“While the Conservatives seem intent on using Brexit to turn us into a low-wage tax haven, Labour will use every power possible to upgrade our economy so we can all lead richer lives.”

He will insist that a Labour government would not use taxpayers’ money to “subsidise bad corporate behaviour”.

In a speech in Doncaster, Mr Corbyn said: “For years we’ve been told that there’s nothing that can stop the race to the bottom in the jobs market that is making people’s lives harder and holding back our economy.

“Well, today I say, Britain doesn’t have to be so meek, and settle for things getting worse and more insecure for so many. We can make the change we need if we understand the power we already have – and how we can better use it.”