The shadow chancellor will pledge to 'build British industry' with an initial pot worth £8bn.
Labour says the national wealth fund would ensure that British taxpayers benefit from businesses built with pubic money in the UK.
The party says the investment would also provide secure, skilled jobs for workers such as plumbers, electricians, scientists and engineers. "What you will see in your town, in your city, under Labour is a sight we have not seen often enough in our country.The plan is part of Labour's vision for "a fairer, greener future", its slogan and a major theme of its conference in Liverpool.
On Sunday, Mr Kwarteng claimed the tax cuts outlined in his so-called mini-budget "favour people right across the income scale", and hinted more were on the way.
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