Corbyn pledges to create 'good jobs' and drive growth

Jeremy CorbynImage copyright

Jeremy Corbyn will pledge to “drive growth across the whole of Britain” and create a million “good jobs” if Labour wins power next week.

Campaigning in York, he will say a Labour government would pump £250bn into industry through a new National Investment Bank.

He will pledge to create at least a million jobs “to rebuild communities that have been left behind”.

He and Theresa May will face questions later on a BBC Question Time special.

At a campaign event in York, Mr Corbyn will highlight plans for a national investment bank, a national transformation fund and a network of regional development banks.

He will accuse the Conservatives of presiding over stagnating productivity, falling public sector net investment and low wages.

“When Labour talks about job creation we mean decent jobs, jobs which pay a real living wage, which people can get by on, and which give people a sense of pride and purpose,” he will say.

“Labour will invest to drive growth across the whole of Britain, creating wealth which is shared across our country, rather than concentrated in the hands of the few.

“Labour will ensure people are not held back. We will build an economy where everyone shares in the creation of wealth as well as its distribution.”

Labour unveiled pledges costing £48.6bn – to be funded from extra tax revenue – in its election manifesto.

The income tax rate would rise to 45p for earnings above £80,000 and then to 50p in each pound earned over £123,000.

Other fundraising measures including corporation tax rises, a crackdown on tax avoidance and an “excessive pay levy” on salaries above £330,000.

It also says it will borrow money to pay for future investment.

Mr Corbyn argues that the “richest have got richer” while others have seen incomes fall or stagnate under a Conservative government.

But Conservative Chancellor Philip Hammond said his party had “made real progress in fixing the mess we inherited from Labour, helping businesses create 2.9 million more jobs”.

He said: “Jeremy Corbyn will not create jobs, he will destroy them. His reckless plans for higher taxes and more borrowing will wreck the economy and we will all pay the price.”

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