BREAKING: 'I will not lead the party in any future General Election campaign' Labour leader Jeremy Corbyn declares after overwhelming election results.
Along with John McDonnell, the would-be finance minister, Corbyn was one of the few hard-left members of Parliament to have survived the party’s modernization into “New Labour” under Blair, which abandoned a longstanding pledge to ensure industry was owned by the state for the benefit of workers, where possible.
Utility companies, such as water, energy and transportation, were to all be brought into public ownership. Companies were to give away 10 percent of its shares to workers, who would receive an annual dividend and get a say on boardroom decisions. High-speed broadband was to be made available to all homes and businesses for free. University tuition fees were to be abolished.
"Labour has to face some hard truths — this was not just about Corbyn but the broader worldview and an economic plan that so many people did not believe," he tweeted. Driven by Momentum, a campaign group set up purely to support Corbyn which amassed 40,000 members, Corbyn soon grew a huge following online and at a series of rallies across the country.
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