What Labour would do if elected

With Labour leader Jeremy Corbyn trying to convince the nation that he is a prime minister-in-waiting at the party’s annual conference on Wednesday, here are some of the policies that Britain could expect if the veteran leftist wins power.

Brexit

Labour agrees that a transition period is needed after leaving the bloc, during which it would seek to remain in a customs union with the EU and within the single market. The party is pushing for “full access to the internal market of the European Union” after Brexit, effectively calling for a European Economic Area-style relationship with the single market — meaning Britain would have to accept the EU’s four freedoms, including immigration. This could mean a similar relationship as Norway’s to the EU.

Economy

Shadow finance minister John McDonnell on Monday outlined the party’s huge renationalisation plans. He also announced that he would force large companies to set up employee ownership schemes that would give workers up to £500 (Dh2,415 or $655) in dividends each year each. Labour has promised to reintroduce a 50-percent tax rate on the highest earners and bring an end to “zero-hours contracts”.

Foreign policy

Pacifist Corbyn, a fierce critic of Labour prime minister Tony Blair’s Iraq War policy, promised to put “conflict resolution and human rights at the heart” of foreign policy, which would be “guided by the values of peace, universal rights and international law”.

The party leader is a long-time critic of Israel, which many believe has spilt over into a tolerance of anti-Semitism within Labour, and is a supporter of a two-state solution with the Palestinians.