political correspondent(wp/es):
A major increase in the minimum wage to £10 was pledged by Labour today as Jeremy Corbyn’s party tried to turn from infighting to policies for the next general election.
The flagship announcement was made by shadow chancellor John McDonnell, who said it was “the level needed for a decent life”.
In a move that would strengthen trade unions, he also vowed Labour would bring back national wage bargaining, arguing this would “end the race to the bottom”.
Mr McDonnell told conference that the Living Wage — currently £7.20 per hour for workers aged over 25, £6.70 per hour for those aged 21 to 24, and £5.30 per hour for ages 18 to 20 — was too low.
Although it is due to rise to more than £9 in 2020, he said Labour would go further if elected and make it £10 an hour.
“Under the next Labour government, everyone will earn enough to live on,” he declared. “When we win the next election we will write a real Living Wage into law.”
He said 200,000 workers were getting less than the legal minimum.
Today’s National Executive Committee backed a 10-point statement of party values drawn up by Mr Corbyn, including a commitment to a “more equal society”, universal childcare, rent controls and opposing wars.
Earlier, Mr McDonnell had urged Labour MPs who have resigned from the shadow cabinet to return to the party’s front bench, saying: “I’d like to see virtually all of them back.”
He hinted that the next shadow cabinet reshuffle was being postponed until November to allow for a wider look at Labour’s internal democracy.
However, that apparent olive branch only alarmed centrist MPs who believe the leadership is plotting to let grassroots activists — who back Mr Corbyn — choose shadow cabinet members.
Mr McDonnell also set out plans to borrow £100 billion to support industry, saying Labour would offer an “interventionist government” ready to protect key home-grown businesses against global market pressures.
“We are setting up a national investment bank,” he said. “We are putting into that bank £100 billion. Yes, that will be borrowed, but it will be borrowed at the cheapest rates in our history.”
Shadow defence secretary Clive Lewis announced that Labour would build three new ships to be deployed in support of aircraft carriers. He presented the move as a boost for members of trade unions Unite and the GMB, saying: “Your members help defend us and we will help defend them.”
A major increase in the minimum wage to £10 was pledged by Labour today as Jeremy Corbyn’s party tried to turn from infighting to policies for the next general election.
The flagship announcement was made by shadow chancellor John McDonnell, who said it was “the level needed for a decent life”.
In a move that would strengthen trade unions, he also vowed Labour would bring back national wage bargaining, arguing this would “end the race to the bottom”.
Mr McDonnell told conference that the Living Wage — currently £7.20 per hour for workers aged over 25, £6.70 per hour for those aged 21 to 24, and £5.30 per hour for ages 18 to 20 — was too low.
Although it is due to rise to more than £9 in 2020, he said Labour would go further if elected and make it £10 an hour.
“Under the next Labour government, everyone will earn enough to live on,” he declared. “When we win the next election we will write a real Living Wage into law.”
He said 200,000 workers were getting less than the legal minimum.
Today’s National Executive Committee backed a 10-point statement of party values drawn up by Mr Corbyn, including a commitment to a “more equal society”, universal childcare, rent controls and opposing wars.
Earlier, Mr McDonnell had urged Labour MPs who have resigned from the shadow cabinet to return to the party’s front bench, saying: “I’d like to see virtually all of them back.”
He hinted that the next shadow cabinet reshuffle was being postponed until November to allow for a wider look at Labour’s internal democracy.
However, that apparent olive branch only alarmed centrist MPs who believe the leadership is plotting to let grassroots activists — who back Mr Corbyn — choose shadow cabinet members.
Mr McDonnell also set out plans to borrow £100 billion to support industry, saying Labour would offer an “interventionist government” ready to protect key home-grown businesses against global market pressures.
“We are setting up a national investment bank,” he said. “We are putting into that bank £100 billion. Yes, that will be borrowed, but it will be borrowed at the cheapest rates in our history.”
Shadow defence secretary Clive Lewis announced that Labour would build three new ships to be deployed in support of aircraft carriers. He presented the move as a boost for members of trade unions Unite and the GMB, saying: “Your members help defend us and we will help defend them.”
