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TOPIC: Corbyn to transform financial sector from ‘masters of all’ to ‘servants of industry

Corbyn to transform financial sector from ‘masters of all’ to ‘servants of industry 21 Feb 2018 07:12 #6258

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Corbyn vows to transform financial sector from ‘masters of all’ to ‘servants of industry’
The Labour leader said his government would be the first in 40 years to stand up for ‘the real economy’


A LABOUR government would take on the financial sector and make it a “servant of industry,” rather than allow it to continue being the “masters of us all,” Jeremy Corbyn vowed today.

In a speech to manufacturers’ organisation the EEF, the Labour leader warned that Britain’s “distorted, sluggish and unequal” economy cannot be fixed without challenging the power of the financial sector.

He said his administration would be the first in 40 years to “stand up for the real economy,” acknowledging that Labour had failed to do so in the 13 years it wielded power under Tony Blair and Gordon Brown.

Mr Corbyn attacked a generation of politicians who believed that the City could drive the whole economy and allowed it to exert “pernicious and undemocratic” control over British politics.

“Out-of-control financial wizardry and gambling were left barely regulated, while the real economies in once-strong industrial areas were put into managed decline,” he said.

“The welfare state was left to pick up the slack with sticking plaster redistribution to the people and places held back by the finance-led boom of predominantly the south-east of England.”

Read More Here;
www.morningstaronline.co.uk/article/corbyn-vows-to-transform-financial-sector-from-masters-of-all-to-servants-of-industry
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