Jeremy Corbyn unveils manifesto splurging billions on nationalisation

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Jeremy Corbyn admitted his plans will be dismissed as 'impossible' today as he prepares to unveil a manifesto to splurge hundreds of billions of pounds on nationalisation and new council houses.

The Labour leader is trying to kick-start his stuttering campaign by launching the 'radical and ambitious' hard-Left programme in Birmingham. 

He will vow to spend £75billion on new council houses, as well as a huge scheme to bring sections of the economy back into state ownership. Huge chunks of BT will be nationalised to provide free broadband for everyone, a move experts says would cost £100billion by itself.

Labour will insist it wants to introduce a four-day working week, as well as bolstering the powers of unions.

But Mr Corbyn will insist that his massive agenda can be financed by hiking taxes solely for the top 5 per cent of earners. 

Jeremy Corbyn is trying to kick-start his stuttering campaign by launching the 'radical and ambitious' hard-Left programme in Birmingham

Jeremy Corbyn is trying to kick-start his stuttering campaign by launching the 'radical and ambitious' hard-Left programme in Birmingham

John McDonnell

Boris Johnson

Shadow chancellor John McDonnell (left) has been masterminding the radical nationalisation programme. Boris Johnson (right) has dismissed many of the policies as 'crackpot'

Revealing his manifesto later, the Labour leader will compare himself to post-war US president Franklin Roosevelt - saying he is ready for it to be attacked by the rich and powerful.

The centrepiece of his 'class-war' election blueprint will be the largest council housebuilding programme since the days of Clement Attlee just after the Second World War.

The 'housing revolution' will fund the construction of 100,000 council houses a year within five years, together with another 50,000 affordable homes for rent.

But the proposals have raised alarm about concreting over acres of green belt, while the respected IFS think-tank warned that it would merely prevent new homes being built in the private sector.

Shadow education secretary Angela Rayner conceded this morning that there are not currently enough skilled workers to build the homes - but she dismissed the idea that it could not happen in the next Parliament. 

She also insisted it 'doesn't matter' that Mr Corbyn is refusing to say whether he wants the UK to leave the EU or not.   

Labour is also expected to announce it will axe the right-to-buy policy that helps tenants buy their council houses at a discount, according to The Daily Telegraph. 

A source said: 'We've got to halt it, otherwise it's going to be like filling a bucket with a hole in it. That's part of the proposition.'

The housing announcement is a key plank of the most Left-wing Labour manifesto since Michael Foot's 'suicide note' of 1983. 

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Mr Corbyn's policy plans

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