The shadow chancellor John McDonnell is expected to say today that all large companies should hand over equity to workers- with stakes worth £500 a year.

In one of the most interventionist policies seen in many years, Labour’s McDonnell will set out plans for “inclusive ownership funds”- in which firms would have to put 1% of their shares into the fund every year up to a maximum of 10%, should the party win the next election.

Any additional capital, estimated at £2.1bn a year by the end of a five-year Parliamentary term – would go into a fund to pay for public services and welfare, part of the plans to be laid out at the Labour party conference,

At the conference, Shadow Business Secretary Rebecca Long-Bailey has said industry can no longer trust the Conservative party.

In the meantime, there have been differing views on whether Labour leader Jeremy Corbyn would support a second ‘People’s Referendum’ on Brexit.