LABOUR is set to scrap Universal Credit as part of a plan to transform the economy, John McDonnell said.
The shadow chancellor said work was being done on the party’s first Queen’s Speech and budget so that Labour could “hit the deck running” in office if Jeremy Corbyn won the expected General Election.
As well as undoing the Tories’ flagship welfare reform, McDonnell also set out a goal to “rehabilitate” the concept of public ownership and embed it in the economy so that a future Conservative administration would not be able to repeat a Thatcher-style privatisation programme.
Speaking at a rally in Brighton on the eve of his setpiece Labour conference speech, McDonnell said: “We are going to restructure the economy.”
The Labour project – which involves public ownership of rail, water, energy and the Royal Mail – would “rehabilitate the whole concept of public ownership and nationalisation”.
He added: “We’ll ensure that public ownership is sown deep into the roots of our economy so that the Tories can’t rip it up again.”
His plan would involve reform of workplace rights and the social security system – including getting rid of “bloody universal credit” and ending “the scourge of the bedroom tax”.
He said there has to be “a proper safety net”.
“That has to be on the basis of enabling people to have a decent quality of life with an adequate income.
“That has to mean getting rid of the bloody universal credit.”
McDonnell told activists in Brighton that plans were already being drafted to implement Labour’s policies in office.
“That’s what we are planning now – the first Queen’s Speech, the first budget, all our programmes costed, the legislation drafted ready to hit the deck running and start transforming our society.”
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