The deficit should be tackled - but not through spending cuts and not to an "
arbitrary" deadline. Instead Corbyn would fund its reduction via higher taxes for the rich and a crackdown on tax avoidance and evasion while tackling "corporate welfare" and tax breaks for companies.
Britain's railways should be renationalised. He is also opposed to the HS2 rail scheme, saying it would turn northern cities into "dormitories for London businesses".
"Quantitative easing for people" could be used to invest in housing, energy, transport and digital projects. Unlike the £375bn issued electronically by the Bank of England between 2009 and 2012 to buy bonds, gilts and other debts, this would be "QE for people instead of banks", Corbyn says. Tax campaigner Richard Murphy
argues these plans would stimulate the economy and boost employment. But Shadow Chancellor Chris Leslie
attacked the proposal, saying it would lead to higher inflation and interest rates, hurting the poor most.
A National Education Service modelled on the NHS should be established. Under Corbyn, state-funded academies and free schools would be forced to return to local authority control while university tuition fees would be scrapped and replaced with grants. Corbyn would look at ending the charitable status of public schools, although he accepts this would be complicated and might not happen immediately. He
reportedly split up with one of his former wives following a disagreement over whether to send their son to a grammar school or a comprehensive. Asked recently if the break-up was over an "an issue of principle", Corbyn told the Guardian newspaper: "I feel very strongly about comprehensive education, yes."
Rent controls should be
re-introduced, linking private rents to local earnings, and more council houses should be built. He also believes that council tenants' right to buy their homes
should be extended to private sector renters.
The immigration debate has been "quite unpleasant". In an interview with Channel 4 News, Corbyn said the current discourse around the issue "fails to recognise the huge contribution migrants have made to this country". He added: "We should let people into this country who are desperate to get somewhere safe to live".
Energy companies should be under public ownership. He
says he would be "much happier" with a "regulated, publicly run service delivering energy supplies". He is "
totally opposed" to fracking. However, he
says deep-mine coal pits in the north of England could be reopened.
A national maximum wage
should be introduced to cap the salaries of high earners. He would also
introduce a windfall tax on former state assets such as the Royal Bank of Scotland, which he says were privatised too cheaply.
Private Finance Initiative deals with the NHS should be ended by using government funds to buy them out. Writing in the Guardian, Corbyn
said they were a "mess" that were costing the health service billions.
The arms trade should be restricted. Corbyn would
like to see the "brilliance and skill of those in the arms industry be converted for peaceful purposes".
