Sharp left turn ahead

Call for nationalisation, taxing rich in Corbyn manifesto

UK Opposition Leader Jeremy Corbyn has been blasted for unveiling an £83 billion ($158 billion) hard-left socialist plan to take state control of key British industries and ramp up taxes on businesses and the rich.

Mr Corbyn’s manifesto for the December 12 election would see university student fees scrapped, nationalisation of a raft of sectors – rail, mail, buses, broadband, water and electricity – and huge pay rises for public sector workers.

The Labour Leader also wants to undo decades of economic and trade union reforms started by the late Margaret Thatcher and continued by Labour prime ministers including Tony Blair.

Prime Minister Boris Johnson said his socialist opponent’s plan had “no economic credibility” whatsoever, and business and freemarket groups warned that Mr Corbyn’s plan could devastate a growing British economy.

Mr Corbyn told supporters to ignore business leaders and economists who warn his manifesto would undo years of progress.

“Over the next three weeks they are going to tell you that everything in this manifesto is impossible,” he said.

“Because they don’t want real change. Why would they? The system is working just fine for them.

“And there could scarcely be a clearer demonstration of that than the furious reaction of the rich and powerful.”

The Labour manifesto promises £82.9 billion in new public spending to boost the green economy, raise public servants’ wages and nationalise industries.

Labour plans to pay for the plan with windfall taxes on big oil companies, targeting the rich by adding tax to private school fees and taxing second homes.

But Mr Corbyn was still refusing to answer the Brexit question.

“What we want to know is what is his plan to deliver Brexit, what kind of deal does he want to do, and what side would he vote on (in a second referendum),” Mr Johnson said.