Owen Smith looks left as he calls for 'revolution' and sets out 20 policies
See all of the Labour leadership hopeful's policies below.
Among other things, Owen Smith has been accused by Jeremy Corbyn’s supporters of being all spin and no substance.
So the Labour leadership hopeful today hit back with gusto - by unveiling 20 policy proposals.
Rather than dripping out his policies on a daily basis, Team Smith have gone for maximum impact by including them all in one wide-ranging speech.
Smith's campaign team say that the proposals will fleshed out in a various speeches over the next weeks. But for now, a quick scan of the 20 proposals indicates that Pontypridd MP has shifted the Labour debate firmly to the left.
His campaign plan is to question the practicality of Corbyn’s leadership, while simultaneously proposing policies that only the most fervent Corbynistas could disagree with.
To that end, Smith made a thinly-veiled attack on Corbyn as he called today for a revolution:
"Not some misty eyed romanticism about a revolution to overthrow capitalism. But a cold eyed and practical revolution, through a radical Labour Government that puts in place the laws and the levers that can genuinely even things up."
He also proposed to replace the Department for Work and Pensions with a Ministry of Labour and to introduce a wealth tax on the richest 1% in society.
Setting out the plans for a wealth tax, Smith said it would be a charge of 15% on unearned income from investments. It would only apply to people earning over £150,000 and it would raise £2.8bn.
"It's time we asked the very wealthiest in our society to start paying more," he added.
The radical proposals pose immediate questions about whether Smith could ever win a general election on such a left wing platform.
But for now his team is less focused on appealing to the typical voter in Nuneaton - and more focused on winning over the left-leaning Labour members who could hand him the crown.
20 policies announced by Smith:
1. A pledge to focus on equality of outcome, not equality of opportunity.
2. Scrapping the DWP and replacing it with a Ministry for Labour and a Department for Social Security.
3. Introducing modern wages councils for hotel, shop and care workers to strengthen terms and conditions.
4. Banning zero hour contracts.
5. Ending the public sector pay freeze.
6. Extending the right to information and consultation to cover all workplaces with more than 50 employees.
7. Ensuring workers’ representation on remuneration committees.
8. Repealing the Trade Union Act.
9. Increase spending on the NHS by 4% in real-terms in every year of the next parliament.
10. Commit to bringing NHS funding up to the European average within the first term of a Labour Government.
11. Greater spending on schools and libraries.
12. Re-instate the 50p top rate of income tax.
13. Reverse the reductions in Corporation Tax due to take place over the next four years.
14. Reverse cuts to Inheritance Tax announced in the Summer Budget.
15. Reverse cuts to Capital Gains Tax announced in the Summer Budget.
16. Introduce a new wealth Tax on the top 1% earners.
17. A British New Deal unveiling £200bn of investment over five years.
18. A commitment to invest tens of billions in the North of England, and to bring forward High Speed 3.
19. A pledge to build 300,000 homes in every year of the next parliament – 1.5 million over five years.
20. Ending the scandal of fuel poverty by investing in efficient energy.
Picture by: John Giles/PA Wire/Press Association Images
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