Jeremy Corbyn says he will spend £500 billion on infrastructure and introduce rent control

Labour leader Jeremy Corbyn promised to spend £500 billion on infrastructure and institute rent control policies for the private property sector in a policy speech this morning. He outlined 10 policies he would implement if he wins the Labour leadership election:

1. £500 billion in new infrastructure spending
2. The building of 1 million new homes - plus rent control.
3. End zero hours contracts and strengthen union rights.
4. No NHS privatisation and parity for mental healthcare funding.
5. Meet Climate Change Act energy goals.
6. Renationalisation of the railways and expansion of government services and spending.
7. Progressive income tax to shrink wealth inequality.
8. Keep the EU Human Rights Act.
9. A pacifist defence policy that will "end support for wars of intervention"

Corbyn will face leadership challenger Owen Smith MP in a hustings debate tonight.

Here is Corbyn's full statement:

Jeremy Corbyn this morning, Thursday 4 August, launched his 10 pledges to rebuild and transform Britain.

TO REBUILD AND TRANSFORM BRITAIN

1) Full employment and an economy that works for all:

We will create a million good quality jobs across our regions and nations and guarantee a decent job for all. By investing £500 billion in infrastructure, manufacturing and new industries backed up by a publicly-owned National Investment Bank and regional banks we will build a high skilled, high tech, low carbon economy that ends austerity and leaves no one and nowhere left behind. We will invest in the high speed broadband, energy, transport and homes that our country needs and allow good businesses to thrive, and support a new generation of co-operative enterprises.

2) A secure homes guarantee:

We will build a million new homes in five years, with at least half a million council homes, through our public investment strategy. We will end insecurity for private renters by introducing rent controls, secure tenancies and a charter of private tenants' rights, and increase access to affordable home ownership.

3) Security at work:

We will give people stronger employment rights from day onein a job, end exploitative zero hours contracts and create new sectoral collective bargaining rights, including mandatory collective bargaining for companies with 250 or more employees. We will create new employment and trade union rights to bring security to the workplace and win better pay and conditions for everyone. We will strengthen working people's representation at work and the ability of trade unions to organise so that working people have a real voice at work. And we will put the defence of social and employment rights,as well as action against undercutting of pay and conditions through the exploitation of migrant labour, at the centre of the Brexit negotiations agenda for a new relationship with Europe.

4) Secure our NHS and social care:

We will end health service privatisation and bring services into a secure, publicly-provided NHS. We will integrate the NHS and social care for older and disabled people, funding dignity across the board and ensure parity for mental health services.

5) A national education service, open to all:

We will build a new National Education Service, open to all throughout their lives. We will create universal public childcare to give all children a good start in life, allowing greater sharing of caring responsibilities and removing barriers to women participating in the labour market. We will bring about the progressive restoration of free education for all; and guarantee quality apprenticeships and adult skills training.

6) Action to secure our environment:

We will act to protect the future of our planet, with social justice at the heart of our environment policies, and take our fair share of action to meet the Paris climate agreement - starting by getting on track with our Climate Change Act goals. We will accelerate the transition to a low-carbon economy, and drive the expansion of the green industries and jobs of the future, using our National Investment Bank to invest in public and community-owned renewable energy. We will deliver clean energy and curb energy bill rises for households - energy for the 60 million, not the big 6 energy companies. We will defend and extend the environmental protections gained from the EU.

7) Put the public back into our economy and services:

We will rebuild public services and expand democratic participation, put the public back into our economy, give people a real say in their local communities, and increase local and regional democracy. We will rebuild our economy with public investment to deliver wealth for all, across our regions and nations in a genuinely mixed economy. We will act to 'insource' our public and local council services,increase access to leisure, arts and sports across the country and expand our publicly-controlled bus network. We will bring our railways into public ownership and build democratic social control over our energy.

8) Cut income and wealth inequality:

We will build a progressive tax system so that wealth and the highest earners are fairly taxed, act against executive pay excess and shrink the gap between the highest and lowest paid - FTSE 100 CEOs are now paid 183 times the wage of the average UK worker, and Britain's wages are the most unequal in Europe. We will act to create a more equal society, boost the incomes of the poorest and close the gender pay gap.

9) Action to secure an equal society:

We will ensure that the human rights of all citizens are respected and all are protected from discrimination and prejudice. We will take action to tackle violence against women and girls, racism and discrimination on the basis of faith, and secure real equality for LGBT and disabled people. We will defend the Human Rights Act and we will guarantee full rights for EU citizens living and working in Britain - and not allow them to be used as pawns in Brexit negotiations.

10) Peace and justice at the heart of foreign policy:

We will put conflict resolution and human rights at the heart of foreign policy, commit to working through the United Nations, end support for aggressive wars of intervention and back effective action to alleviate the refugee crisis. British foreign policy has long failed to be either truly independent or internationally co-operative, making the country less safe and reducing our diplomatic and moral authority. We will build human rights and social justice into trade policy, honour our international treaty obligations on nuclear disarmament and encourage others to do the same.

This is the full text of the speech Corbyn planned to give this morning:

***Check against delivery***

We are setting out today 10 pledges … to rebuild and transform Britain… so that no one and nowhere is left behind.

1. 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.

For too long, too many communities in Britain have been neglected … too many people's potential has been left untapped … and their talents undeveloped.

We are going to invest in those communities … and invest in our people

Britain risks being left behind … Don't take it from me … the CBI says Britain has the worst infrastructure in the OECD.

That has not happened by accident … This is about a failure of our economic model … it is the economic model of 'privatise and neglect'.

This government isn't the only one to blame … but it is the most gratuitous, with their failed austerity model of turbo-Thatcherism.

George Osborne cut government investment … the investment that provides a platform for people and businesses to thrive.

The Tory government cut research spending by £1 billion in real terms … how on earth are we going to become a strong modern economy if we cut science funding?

They cut subsidies in renewables … the energy of the future … Germany and the US are pouring money into this …

That's why we have announced a National Investment Bank to help channel £500 billion of investment over the next decade …

We'll invest in housing … to secure homes for people

We will invest in the high speed broadband businesses need … and stop languishing behind Bulgaria and Romania

We will invest in renewable energy … to transition to a low carbon economy and keep the lights on

We'll invest in our transport network … to better connect our cities and towns, especially in the North.

And we'll invest in the sectors and industries that create the high wage … high skill … high productivity jobs of the future.

Britain has got to catch up … or we will all be left behind … The Neglect of our country must end … we need a Labour government that rebuilds and transforms Britain.

We will build an economy that works for all … with good jobs in every part of the country.

2. Too many people in Britain today do not have a secure home … the number of families in temporary accommodation has risen every year under the Tories … Last year 100,000 children weren't living in a home they could call their own.

In every year under this Conservative government … street homelessness has risen too …

This is the result of Tory neglect … the lowest level of housebuilding since the 1920s … and grotesque policies, like the benefit cap and the bedroom tax … that force people out of a home.

Everyone deserves the right to a secure place to live … But too many are squeezed into poor quality housing … paying too much and getting too little

Too many private tenants live at the mercy of an unforgiving property market … where a few unscrupulous landlords have free reign.

And too many of our young people have no real prospect of ever owning their own home.

Many are unable to save for a mortgage … because sky high rents take up too much of their wages

… and many people can't afford to buy because a rich few have turned housing into an investment opportunity

The Tories think £250,000 is affordable for starter home … £450,000 in London … They live in a different world … out of touch with the reality of life for millions of people in Britain.

We will build at least a million decent, secure homes in our first term in office.

We will build at least half million council houses … so that a new generation can enjoy the security of tenure and affordable rents that previous generations enjoyed.

For private renters … we will legislate to introduce rent controls … implemented by local authorities … and bring back security of tenure.

So Labour gives a secure homes guarantee

And because we believe in joined up government … we will use the National Investment Bank to give discounted loans for zero carbon homes … and increase regulation to encourage low carbon homes.

3. And for millions of people work is no longer a source of stability … but a source of anxiety …

… For the six million people earning less than the living wage … for the hundreds of thousands of people on zero hours contracts … who don't know when they'll be working … or

As we rebuild and transform our country … we will put an end to the exploitation and injustice of low-paid, insecure work.

Our housebuilding programme will create 120,000 jobs a year.

Backed up by investment … our industrial strategy will build the new, clean industries of the future … powering the transition to a low-carbon society … and creating one million good, secure jobs to restore dignity at work … and pride in our communities.

So Labour will tackle insecurity at home and at work … backed up by strong employment and trade union rights:

With strong equal rights for all workers from day one … whether full-time or part-time … permanent or temporary.

By ending zero hours contracts

By legislating for collective bargaining in large employers … and across sectors

And by ensuring Britain complies with ILO conventions

We will make work secure.

4. Our NHS is Labour's proudest creation … but it is under threat like never before

… From a Tory government that has legislated for ever increasing competition and privatisation

… and that has put the NHS in record deficit and on the brink of disaster in many areas.

They have cut public health spending … cut mental health services … and cut social care

A&Es are in crisis … waiting times are rising

Labour will repeal the Health & Social Care Act … we will renationalise the NHS, ending privatisation

This is not another top-down reorganisation … but working with NHS staff and managers to unpick the damage and waste of the Tories.

We will restore mental health services … and create true parity of esteem.

We will integrate the NHS and social care for elderly and disabled people … funding dignity across the board

Labour will secure our NHS and social care.

5. Education and skills will be the cornerstone of any successful economy in the 21st century.

We will build a National Education Service … open to all throughout their lives

We will not do what the Tories are doing … slashing funding for adult education and colleges … we will not increase fees for courses but cut them …

… on the way to making education what it should be … an opportunity for all … the opportunity to improve you skills and open your mind.

When we invest £500 billion in our country that investment will come with strings attached … on employers to create good quality apprenticeships.

Too many of what the Tories call apprenticeships are low quality excuses to pay young people below the minimum wage … We will stop that exploitation.

Working with employers, trade unions and sector skills councils … we will give young people real opportunities to develop in high skill, high wage industries.

Joined up government … and to give the next generation the best start in life … and to help parents we will extend free hours towards universal childcare.

A national education service, open to all … providing opportunity from cradle to grave.

6. Britain needs to get back on track with meeting our climate change goals …

Nearly 80% of our environmental protections came from the EU … and we cannot allow the referendum vote to turn us back into the dirty old man of Europe.

Our National Investment Bank will drive the expansion of green industries … accelerating the transition to a low carbon economy.

We have to manage that transition … through an active industrial strategy … to ensure that old skills aren't lost … as well as new skills learned.

No one and nowhere must be left behind.

We will democratise our energy … by investment in community owned energy schemes … literally devolving power … energy for the 60 million not the Big Six.

Labour will take action to secure our environment.

7. As Tory austerity has ravaged our country … it is the already most deprived areas that have been hit the hardest.

We will ensure our network of regional investment banks work to empower local councils … given them the investment their communities need.

In housing … energy … yes, but also in parks, the arts and leisure.

We will give councils more powers … and remove obstacles … to bring services back in-house.

And to re-regulate the buses … and unlike the Tories who want to remove the right for councils to run municipal bus services … Labour will encourage publicly owned and publicly responsive bus services.

Ending the legalised larceny of the privatised railways … will also help to end rip-off Britain.

Labour will put the public back into our economy and services.

8. When Labour was elected by a landslide in 1997 … and relaxed about people becoming "filthy rich" … chief executives earned around 50 times the wage of their average worker … now it's heading towards 200 times.

Britain's wages are the most unequal in Europe …

We will boost the wages of the poorest through making the minimum wage the living wage … with no exceptions … and at least £10 per hour by 2020.

We will reconfigure our tax system to create a more equal society … and clamp down hard on those who would avoid their taxes.

Labour will raise £10 billion from tightening Corporation Tax reliefs … and bringing headline rates back to levels in George Osborne's first term.

We will introduce mandatory equality pay audits … to stop women, disabled people and BME workers from being exploited.

There is grotesque inequality in our society … and the Labour government I lead will tackle it.

Labour will cut income and wealth inequality.

9. Prejudice and discrimination still scar our society …

The rise in racially-motivated violence and hate speech … in the wake of the referendum vote … should shame us all.

But the fact that institutional racism continues in our criminal justice system should shame us too … BME people are still more likely to be stopped and searched … more likely to be charged … more likely to be sentenced … and more likely to receive a harsher sentence.

Domestic violence now makes up 15% of all crime … and two women a week die at the hands of their partner or ex-partner.

Labour will ensure that refuges are properly funded … that the criminal justice system treats women with sensitivity and respect … and we will introduce compulsory lessons in schools … that cover sex, consent and healthy relationships.

And we will restore dignity and respect to a social security system … that has penalised and demonised disabled people.

We stopped the £4.4 billion cuts to disabled people's Personal Independence Payments … and we will end the indignity of the current Work Capability Assessment system.

And we will defend Labour's Human Rights Act.

Labour will take action to secure a more equal society.

10. Conflict resolution and human rights must be at the heart of our foreign policy …

We will work through the United Nations … and continue to work with the EU … to co-ordinate our efforts … including to tackle the appalling refugee crisis.

A month ago I apologised on behalf of our party for the war on Iraq … an aggressive war … that left Britain and the world less safe … and damaged our standing around the world.

But it is not enough to apologise …

Labour must work for a more peaceful world … act to resolve conflict through diplomacy and dialogue …

But we must also speak out against injustice … whether that's the atrocities being committed in Aleppo by Assad forces … or the war crimes in Yemen committed by Saudi Arabia … armed by Britain.

We must also build human rights into our international trade policy.

Labour will put peace and justice at the heart of foreign policy.

Conclusion

These are my pledges for a Labour government to transform and rebuild Britain … transforming and rebuilding Britain physically, socially and morally.

Labour will ensure that no one and nowhere is left behind … With the talent and the skill in this country, Britain can achieve so much more.

Thank you for coming here today.