Jeremy Corbyn tipped to launch 'new political party' ahead of General Election

I think a lot of people were hoping he would - he had a huge number of people supporting him when he was leader of the Labour Party. Even more now I expect.

He’ll get my vote. Am sick of Starmer and the tories!

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Tricky one, the “Public Mood” has Muddied this last few years.

He was monumentally unelectable last time. Despite the appalling lack of any credible inspirational political leader at this point in time I’d never vote for Corbyn!

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Never say never, you might have a political Mood Swing, beyond your control!!!

Corbyn is the best weapon the Tories have .
The mere thought of Corbyn in power makes people shudder .

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I’m shuddering already!

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Is he allowed out of the Care Home on his own now?

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I think this is unlikely,

I agree that its unlikely as the only impact will be to dilute the vote for Labour in a few seats. Even Corbyn would not be that destructive for no benefit.

I heard a few of his policies on GB News a while back (I think they were having a go at him) but I thought ‘You know what’ some of them weren’t half bad…Bearing in mind that no politician or party give you 100% satisfaction.
:face_with_monocle:

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I haven’t managed to find a current list of Corbyn’s “policies” but here’s a summary of his objectives in 2019:

Jeremy Corbyn will nationalize UK utilities in 100 days. ‘Simply huge’ changes loom if Labour wins the election

Labour Party leader Jeremy Corbyn has pledged to dramatically expand the role of the state and boost public spending to levels not seen in a generation if voters send him to Downing Street on December 12.

On Labour’s policy wish list:

  • nationalizing major utilities
  • a 32-hour work week
  • giving 10% of shares in large companies to workers
  • increasing the power of unions
  • freezing the retirement age at 66
  • building out public housing stock on a large scale

The party has pledged to finance higher spending with big tax hikes for corporations and Britain’s wealthiest 5%. Borrowing to fund investment would reach £55 billion ($72.4 billion) annually by fiscal year 2023.

The overhaul would unfold at breakneck pace. Labour said Monday that it would begin the process of nationalizing water and energy companies within 100 days of taking office.

Labour has proposed to increase day-to-day spending — a category that includes pay hikes for public sector workers, abolishing university tuition fees and rolling out free prescriptions — by £83 billion ($109.2 billion) in fiscal year 2023. Investment in long-term projects, such as a green infrastructure program and building new hospitals and schools, would double from current levels. Corbyn recently announced that Labour would also provide “fast and free” broadband across the country by nationalizing Openreach, BT Group’s telecoms infrastructure arm.

As a result, state spending as a share of national income would jump to a threshold not seen outside of the financial crisis since 1977, according to the IFS. The research group noted that this proportion of spending has never been sustained in the United Kingdom “for any significant period of time.”

Collectively, Labour’s policies have a distinct anti-business feel, according to Ruth Gregory, senior UK economist at Capital Economics. The expectation is that they “would negatively impact business confidence and business investment,” she continued. Investors would likely react to a Corbyn election win by dumping the pound and selling shares in UK companies. (The pound has shot up in recent days to a seven-month high against the dollar as markets bet on a Johnson win.)

Then there’s the concern that Labour, once in power, could go even further than what’s in its manifesto. The worry, per Gregory: If a significant policy like nationalizing broadband was added to the party manifesto at the last minute, what else could be on the table?

To finance a wave of fresh spending, Labour will need to lean on higher taxes and borrowing while interest rates are near record lows. The tax companies pay on their profits would jump to 26% from 19%, raising more as a percentage of GDP than any other G7 country, per the IFS. The party has also pledged to tax financial transactions and reform how the government taxes capital gains and dividends. And it would increase income taxes on people making more than £80,000 ($105,275) per year.

Although some of his “objectives” are laudable, most are, of course, incredibly expensive, profoundly impractical and would have dire consequences, if achieved. It seems to me that Corbyn is a left-wing version of Truss … :scream:

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He also wanted to do away with the Inheritance nil rate band thereby allowing the state 40 % of all your assets on death .

No thanks .

Some of the policies are very positive and needed. Re-nationalising the water companies is surely needed, just look at the mess that privatisation has caused. Building housing stock would also be welcome - address the crazy private rented sector prices, calm the house price rises and create work. Addressing the relatively low tax that the wealthiest pay is also needed - especially where they are more likely to paying capital gains tax at 28% rather than high level of income tax at 40% or 45%. Retirement age is getting silly at 67, especially as currently UK’s life expectancy is in fact going down.
So not daft and if combined with infrastructure investment more likely to lead to growth than Truss’ mental plans. However Corbyn was foolish to add in very costly and prone to failure ideas such as nationalising all utilities, forcing companies to give shares to workers, free everything for everyone (pretty much it seemed). These wilder plans meant that the press had an open goal mouth to exclaim alarm and fear over Corbyn. As is shown in the article shared - words like anti-business, negatively impact investment, dumping the pound, the worry, what else is on the table? A lot of fear-mongering here.

I did point out that Corbyn’s “policies” were from 2019 - who knows what his “policies” are now … :question:

If he does form a party and there is a candidate in my area, I will probably vote for them as a token protest gesture ( The Tories always get in here anyway)

All of those policies seem sound to me, if idealist

And it would be a welcome change to vote for idealism instead of the filth the Tories churn out

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Totally agree he is too closely linked with the IRA and Hamas to be electable

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Welcome James .
I totally agree with you .

Welcome James, and thanks Omah. I did say I liked some of his policies.
Although I don’t want to make a habit of it…But I sort of agree with Lincs post.

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Well we don’t know Corbyn’s current policies are yet … presumably, he’s going to nationalise all service industries, tax higher earners to the hilt, spend loads on education, health, buildings and infrastructure and borrow a trillion or two to finance it all as businesses flee the UK and the economy crashes into a smouldering ruin … :man_shrugging:

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Hiya James,
He’ll never get elected, he carries far too much baggage.
All he might succeed in doing is cause more fissures in the Labour party and as has already been suggested give the Tories a helping hand…the irony!