The distribution of ownership of the country’s economy means that decisions about our economy are often made by a narrow elite. More democratic ownership structures would help our economy deliver for the many and lead to a fairer distribution of wealth.

Key manifesto promises:

  • Building a clean economy of the future is the most important thing we must do for our children & future generations. Recent years have seen a failure to progress towards our targets. We will get back on track to meet the targets in the Climate Change Act & the Paris Agreement.
  • Our industrial strategy will be built on objective, measurable missions, one of which will be to create an innovation nation with the highest proportion of high-skilled jobs in the OECD by 2030 when we will also meet their target of 3% of GDP spent on research & development. Another will be to ensure that 60% of the UK’s energy comes from zero-carbon or renewable sources by 2030. We will move beyond the narrow approaches of the past, & mobilise the talents & resources of our whole country to deliver an economy fit for the future.

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More manifesto promises:

  • Labour will create a National Investment Bank to support a network of regional development banks that, unlike giant City of London firms, will be dedicated to supporting inclusive growth in their communities.
  • Labour will ban fracking because it would lock us into an energy infrastructure based on fossil fuels, long after the point in 2030 when the Committee on Climate Change says gas in the UK must sharply decline.
  • We will ensure that the huge potential of every part of our country is met. The next Labour government will rebuild communities ripped apart by globalisation and neglected for years by government.
  • The UK energy system is outdated, expensive and polluting. Privatisation has failed to deliver an energy system that delivers for people, businesses or our environment.
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