“We want to see a genuinely mixed economy of public and social enterprise, alongside a private sector with a long-term private business commitment, that will provide the decent pay, jobs, housing, schools, health and social care of the future. Labour will always seek to distribute the rewards of growth more fairly. But to deliver that growth demands real change in the way the economy is run,” Corbyn said.
Earlier on Saturday, shadow chancellor John McDonnell said the Blair and Brown governments had created an unfair tax system that made Britain a haven for the super-rich and that Labour would rewrite the rules of the economy.
McDonnell said the party must aspire to be another great reforming government when it returned to power.
“The last Labour government relied too heavily on tax revenues from financial services, and too heavily on off-balance sheet spending through the private finance initiative,” he said. “It didn’t do enough to clamp down on tax evasion and avoidance. It helped create an unfair tax system.”….The Guardian
Jeremy Corbyn calls for new economics to tackle 'grotesque inequality'