Jeremy Corbyn Briefings

You see how life moves on.

Thanks

for inviting me and it is a pleasure

to be here for the second year

running. A good deal has changed

since I came to your conference last

year. We had a surprise general

election. Too many people here, and

perhaps an even more surprising

result. A result that returns a weak

and divided Conservative Government

and labour opposition stronger and

more united than ever before. We

have also seen the terms of the

economic debate shift dramatically.

I'd put it to you last year, but too

many people the economic system

simply isn't working. A system that

is delivered, rising inequality and

falling living standards for the

majority. When 6 million of those in

work are earning less than the

living wage, it is a system in which

large numbers of people have lost

confidence. It is not hard to see

why. The richest 10% now own 900

times the wealth of the poorest 10%.

And in recent years, half of the

increase in personal wealth has gone

to the top 10%. I put it to you this

year, that a crucial region for the

surprising election result, the

biggest turnaround in polls during

an election campaign in British

history, is that Labour went to the

country with a vision that offered

hope and change. Our manifesto for

the many, not the few, set out a

fully costed programme to build an

economy which gives everyone the

chance of a secure and fulfilling

life.

Since the general election in June

the political establishment has

finally begun to catch up. Calls to

end austerity now come from all

sides in Parliament. Senior Cabinet

ministers are taking their lead from

Labour, and pushing for more radical

solutions to the housing and student

debt crisis. Sajid Javid advocates

50 billion of borrowing for

investment in housing, Jeremy Hunt

has broken ranks and called for an

end to the public sector pay cap,

and few would have predicted that

one year ago. Of course, we are yet

to see if they can convince the

Chancellor. It is a measure of the

essential pragmatism of business

people that so many have changed

their outlook too. Business people

across the country have expressed to

meet growing awareness and

acceptance that things have to

change. The London chamber of

commerce to build freely to build

housing. We know an economic model

that allows the few to grow very

rich while there is rising

indebtedness, that leaves too many

people in and for filling and

insecure work that is overreliant in

one sector is not sustainable and in

this week for weeks, it clear that

Britain needs a pay rise. With too

much housing income which is going

to pay debt or rent, that is less

money for consumers to spend on

productive businesses. That is why

Labour backs a real living wage, and

sensible control on rents and debts.

It isn't good for business either.

We understand that Labour has

changed, and you have changed. But

there is one thing that hasn't

changed. One year ago we were just

five months on from the referendum

vote to leave the European Union.

The government's sluggish response,

to which had already created

unprecedented uncertainty for

business, but when you run Article

50 has been triggered and Brexit

negotiations are underway. Many of

you feel no closer to how the

direction of travel is that they

desperately need. Watching chaos and

confusion grow at the heart of

government and Brexit negotiations

stuck in stalemate, many of you feel

the situation is more uncertain and

precarious than ever. Time is

running out. We know, as you do,

that firms are deciding now whether

to continue to invest in the UK. And

that guarantees in key areas are now

needed to stop firms from cutting

the UK out of their business models.

We joined forces with other business

organisations, the engineering

employers organisation, the Chamber

of Commerce and the Federation of

small business. Remember, so many

people in the private sector work

for small and medium-sized

businesses and they must be taken

into account in all of our

considerations. In joined forces to

ask the government to heed the needs

of business as they negotiate our

exit from the European Union. We

agree. We need a Brexit which puts

jobs and living standards first and

Labour which is common ground with

you, putting the labour needs of the

economy front and centre stage. We

have common ground in the need for

transitional arrangements to be

agreed immediately. So that

businesses know they will not face a

cliff edge Brexit when the two-year

negotiation period is up. Let me be

clear, to delay a transitional deal,

until the final deal is agreed, as

the Prime Minister says she wants to

do, is simply not good enough. The

prospect of sudden changes in the

legal and regulatory environment in

which people do business is

affecting your decisions right now.

And we have common ground. On the

threat of no deal which claims the

Secretary for International trade is

a nightmare scenario. One that

involves tariffs on our food imports

and our manufacturing exports,

queues at our ports and a hard

border with Northern Ireland, with

all of the dangers that could bring.

The fact that some in the Cabinet

want no deal to relaunch Britain as

a race to the bottom deregulated tax

haven on the shores of Europe only

adds to the risks. And we agree. On

the need to signal that the UK

remains open to the rest of the

world that Europe is not the enemy.

But a partner in a strong and

cooperative relationship for the

future. European Union citizens

living in Britain are our friends

and fellow workers. And neighbours

and friends of our families, that is

why our government should

unilaterally agree for them to have

full rights while here. They should

have had that months ago and Labour

called for that in July last year,

just after the referendum. Like you,

we've always said that we respect

the result of the referendum. Like

you, we have always said that the

economy, jobs and living standards

should come first in the

negotiations, which means it is

crucial that the final deal

maintains the benefits of the Common

Market and the customs union. I

promise you today that between now

and March 2019, we will use every

opportunity that we can find to put

pressure on the government to do the

same. But, as Carolyn rightly

pointed out, we must not use up all

of our energies on the Brexit

negotiations. There is vital action

to be taken at home too. What will

be determined in the next two years

is not just our relationship with

the EU, but the kind of the economy

and country that we want to live in.

A bad Brexit deal risks exacerbating

existing weaknesses in our economy.

Low investment, low productivity and

low pay. We will be less in the

country down if we do not seize on

the period of change to tackle those

weaknesses at their root causes, by

working together to give shape to a

new economic model that will create

a fairer and richer Britain for all.

I believe that we share a great deal

of common ground on how this should

be done. Again, I echo Carolyn. If

we are to rage standards of living

wages, we must solve the

productivity crisis. It continues to

take a work in Britain five days to

produce what a worker in France and

Germany produces in four. If the

Obiang decides that our recent

version of productivity performance

and revises down projections -- OPI,

it will take a huge toll on public

finances, as the Institute for

Fiscal Studies has pointed out. It

couldn't be clearer, the

productivity crisis is making our

country poorer. The answer to our

productivity crisis lies in

investment. In infrastructure, new

technologies, and in people.

Business investment is being held

back, I've creaking infrastructure

and a shortage of skilled workers,

say government must act first. Yet,

under the Conservatives, crucial

infrastructure investment has been

delayed from re-let revocation to be

Swansea tidal lagoon. The adult

skills budget has been slashed. It

even went into the election

promising to cut per-pupil funding

in real terms. The Chancellor should

use his autumn budget to change

direction and invest in long-term

growth. That is what Labour has

already pledged to do. With national

transformation funds to upgrade the

country's infrastructure and reverse

years of underinvestment in the

regions, and fairness between the

south and the north, and between

East and West and the nations has to

be addressed. We have two be

investing in transport, energy and

capital infrastructure right across

the country so we will establish a

national investment bank with a

network of regional development

banks which provide patient finance

for firms wanting to adopt and

implement existing innovations, or

to develop entirely new ones. We are

a very creative country. And we will

build a national education service

to ensure that when businesses

create skilled jobs, there are

people able to fill them and where

businesses adopt new technologies,

they're in employee 's know how to

use them. These policies help create

conditions that businesses need to

invest. They will only deliver the

improvements the economy needs if

they are backed up by a bold

industrial strategy. Again, this

government failed to act. We have

heard a lot of warm words on

industrial strategy but we are still

waiting to hear how they will take

it forward. Labour's industrial

strategy built on national missions

for energy transition and to

increase research and develop in

spending to 3% of GDP by 2030 will

lay down the challenge to businesses

to provide the foundations on which

they can be met. We will invest 1.3

billion in our first two years of

government to galvanise private

investment. Set up two new capital

centres for metals, centres of

collaboration and innovation to

drive productivity and improvement.

And, harness the 200 billion spent

by the public sector each year to

boost local economies and local

supply chains. To bring prosperity

to every region of the country. That

is how we deliver properly funded

public services, in the long run.

And ensure that everyone earns

enough to live on. If we get this

right, it isn't just our economy

that will be stronger but our

political institutions and other

social bonds as well. We will, as

you know, raise some taxes to pay

for it. I knew that he would be

welcoming that that! To ensure that

our spending plans fit within the

constraints of our fiscal

credibility rule. When we do, we

will be clear and open about our tax

plans, as we were during the general

election. We will not do it by

stealth. And, we will seek to

improve the functioning of

businesses taxation wherever

possible. By operating business

rates in line with CPI instead of

RPI, moving to annual revaluations

and exempting new plants and

machinery. And looking at staggering

tax incentives for investment and

integration. We do this because a

fair and functional taxation system

is the only way to deliver

investment in skills which are

desperately needed across the

country. I'm sure that everyone here

would agree that providing good

infrastructure and education is what

responsible governments do. And it

isn't just government that has a

duty to be responsible. Business

does too. From insuring their

suppliers often small businesses are

paid promptly, to ensuring that they

pay their taxes in full too. And

this shocking revelations from the

Paradise Papers today, evidence of

widespread tax avoidance and evasion

on an industrial scale must lead to

decisive action and real change. It

is by no means all big businesses,

but these actions by a few undermine

trust in all businesses, and they

are the victims too, not just

reputation early but financially.

Those businesses that play by the

rules and pay the taxes that they

owe are being undercut by those who

do not. The vital revenues

government needs to fund industrial

strategy, good infrastructure and

world-class education that we aspire

to, these things can only be

delivered by fair taxation. So while

we must not tarnish all businesses

by the actions of a few, we also

have a duty to come down hard on

those avoiding their

responsibilities and give Her

Majesty's Revenue and Customs the

resources that it needs.

As the Shadow Chancellor has set out

this morning, we need a full public

enquiry into tax avoidance and

evasion, on and offshore, a register

of companies and trusts and who

benefits from them. And a new tax

enforcement unit in HMRC. And an end

to public contracts for companies

who are abusing the system. And, we

will look at using withholding tax

where individuals or companies are

involved in abusing the system. And

public contracts the companies

engaged in abusive tax avoidance.

Understand this, the public anger

and consternation at the scale of

tax avoidance reveal yet again

today, we are talking about tens of

billions that are effectively being

leeched off our public services by a

super-rich elite that holds the

taxation system and the rest of us

in contempt. We must take action now

to put an end to the socially

damaging and extortion at costly

scandal. There is another area where

we have a duty to act and act now.

Faced with the ongoing revelations

about sexual harassment, we should

make this a turning point and a

moment of real change. We must no

longer allow anyone to be abused in

the workplace. Such abuse, sexism

and misogyny is sadly very far from

being confined to Hollywood and the

corridors of power. It is also

widespread in our schools and

universities, in our businesses and

workplaces. In our newspapers and

our TV screens, it is all around.

That must change and business has an

essential role to play. All of you,

all of us need to look hard at

ourselves, as we in the Labour Party

are doing, to see how our processes

and procedures can be improved. How

it can be made easier for women to

speak out and for victims to get the

support they have a right to expect.

Businesses can have a vital partner

in rooting out injustice in the

workplace, the trade unions. They

are crucial to taking on and rooting

out sexual harassment and

discrimination. I would encourage

each and every business to be

serious about improving workplace

culture and tackling sexual

discrimination at work and to engage

with the trade unions to do that.

Governments also have other

responsibilities, and forcing a fair

and transparent regulatory

framework, so that, for example,

businesses are not destroyed by the

likes of RBS abusing their power.

Providing for the health of our

citizens and yes, in some cases,

running essential public utilities.

Because everyone of you in this room

who knows what goes on, seeing an

idea brought to the market, or what

it takes to survive the cut and

thrust of consumer choice, month to

month, knows that privatised

monopoly utilities are not real

markets. Where is the pressure for

inefficiency and innovation if

consumers cannot go elsewhere if

they are dissatisfied. I know some

of you will disagree and think that

bringing some part of the economy

into public ownership won't be good

for the reputation of business. But

it's not good for the image of

business when water companies pay

out billions in dividends and

interest payments through financial

arrangements while households see

their bills go up to pay for it.

It's not good for business, people,

if their employees had to spend huge

amounts of time and money getting to

and from work each day on expensive

and unreliable services. It's not

good for manufacturers to have among

the most expensive energy in Europe

or see any G transition held back

because the necessary investments to

transform our energy grid are not

being made. And just as it wouldn't

be good for business to be locked

into inefficient funding

arrangements that don't provide

finance on the best terms available

or inflexible contracts that don't

add that to your needs, nor is it

good for the public. That is why we

will end the Private Finance

initiative because PFI contracts

have overcharged the public to the

tune of billions. You wouldn't put

up with it, and neither will we. But

we won't let ending PFI hold-up

vital infrastructure investment. We

will end it to make sure that

investment happens in a way that

gives best value for money for the

public in a way that better meets

user needs. This isn't about being

anti-business or anti-enterprise or

about closing ourselves off to the

rest of the world. It is about

deciding to attract business from

across the world by creating

world-class infrastructure that is

sufficiently funded, cheap and

reliable energy, safe and efficient

water and transport systems and,

skilled and educated population. Not

by allowing a select few making

monopoly profits from our essential

utilities. This isn't a throwback to

a bygone era, it is entirely in step

with what is happening in much of

the rest of the world. Germany and

France, even the United States are

deciding that key sectors such as

energy and water are better off in

public ownership. It is time for

Britain to catch up. Building an

economy for the money will mean

making some big changes. But it will

also mean an economy that is

stronger, fairer and more stable.

And business know more than anyone

how important that is. We have

common ground on Brexit, Common

ground on investment training and

industrial strategy and a government

that embraces its responsibilities

and carries them out for the common

good. That is what Labour offers you

and that is what Labour offers

Britain and I thank you for inviting

me again to the CBI conference and I

value the day-to-day relationship we

have with the CBI, as does John

McDonnell and others in my team. I

look forward to working with all of

you in the future, whenever the

general election comes and we, I

hope, are in government to continue

working with you.

Thank you very much.

Jeremy has agreed to take a few

questions. If you put your hand up

and introduce yourself and when you

see the paddle scoop up have our

undivided attention. Number four.

Frank Miller from Teesside. In every

lash and allies Britain, what are

the biggest innovation challenges?

I

think the innovation challenges that

will be huge for you and all others,

are high-technology, robot

technology and all the technology

that goes with it. Previous

industrial revolutions have always

led to huge disparities of wealth

and power and a lot of opposition to

them. Think of the great

technological changes over the past

200 years. We are into a fourth

industrial revolution. That has to

be something that ensures the

creativity and well that grows from

it that has to be shared and spread

fairly. You look at the massive

profits made by a small number of

people but owns some of that

technology, to me unbalanced and

unfair. We are working with

universities and colleges and I know

in Teesside you are doing good work

at the college, the stem centre and

we look forward to working with you

on that. I don't see

high-technology, robot technology,

all that, as particularly a threat

to anyone, I see it as an

opportunity for all of us if there

is a public participation and public

involvement in it.

We will have

Frances O'Grady along to talk about

that this afternoon.

It came up with

the TUC a lot.

Perfect.

What is the

colour coding?

I was briefed, but I

have forgotten.

We shall work it out

as the questions come.

Should the

Queen apologise for her private

estate making offshore investments

as revealed in the Paradise papers?

Anyone putting money into tax havens

in order to avoid taxation in

Britain and investigations have to

take place, should do two things,

not just apologise for it, but also

recognise what it does to our

society. Because if a very wealthy

person wants to avoid taxation in

Britain and therefore put money into

a tax haven somewhere, who loses?

Schools, hospitals, housing, all

those public services lose and the

rest of the population have to pay

to cover up the deficit created by

that. So I think the Paradise

papers, which I have been reading

through and like all others this

morning, are quite shocking and I

did raise some of these issues are

Prime Minister's Questions last week

and we will obviously be raising the

issue in Parliament and John

McDonnell spoke about it this

morning. There needs to be an

immediate public enquiry. We simply

have too challenged the culture that

there is something clever about

avoiding taxation. Taxation is what

gives as ambulances, gives us fire

stations, gives us safety in our

lives and we have a responsibility

to pay for it. It undermines

everyone of us, everyone others here

who pays our taxes properly and

diligently. We are undermined by

this kind of evasion.

It must stop.

We have about three more questions.

Orange is media.

I got back, it was

the Telegraph who asked after. We

are working this out.

My name is

Louise Brooks Smith and head of UK

planning. International and global

understanding is great, but we need

to make sure our communities are

looked after here. We all know we

need to address the housing supply

and delivery. There is a white paper

out for consultation the moment that

is looking at elements of that. But

would a Labour government be bold

and call for a comprehensive review

of the green belt, rather than

leaving it up to individual local

authorities and have a piecemeal

affair, as we are looking to have at

the moment?

If it is a brief answer

we have time to two more questions.

A brief answer on housing and the

green belt! Come on! I represent an

inner London constituency, as

everybody knows. All my life I have

represented it I have been dealing

with the housing crisis and the

reality of insufficient supply of

rented property by a council housing

associations. Overcharging and very

expensive private rented sector and

the damage that overcrowded places

do to children and the damage that

stunted children who have to move

from one hostel to another when the

family becomes homeless, means they

underachieve in school and we all

lose out as a result of it. And the

way in which too much of urban

Britain, the working class

communities are being built out and

moved out of Central City areas,

changing our cities for ever and the

words by the London chamber of

commerce and others about the labour

market problems in London are

actually replicated all over the

country. So there is a point and a

sense in investing in good quality,

socially rented housing for all, to

give people some certainty in their

lives. If anyone has had experience

of talking to a family who are

homeless and then that same family

when they have been given secure

housing, it is transformational. It

is quite humbling to find it. Where

we build the housing is crucial.

There are three 100,000 or so houses

built per year, mostly across the

UK, disproportionately, more in

London and the south-east than

elsewhere and about 200,000

households created per year. Some of

those single person households, some

are families. We have to build a lot

more. I want that building to be

done with good quality, with high

energy efficiency standards and

predominantly on Brownfield sites

and where there is a new

development, a substantial new

development, it should be

accompanied, as good planning would

be, with schools, with health

facilities, parks and all the other

facilities, so you build a

community.

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