Today Labour launched its manifesto for the 2019 election - and there's a lot in it.

From a £400bn infrastructure fund to wide-scale nationalisation, austerity reversal to a massive environmental programme, the party has branded it a manifesto 'for real change'.

Launching the document in Birmingham, leader Jeremy Corbyn said the 'political establishment' had blocked such policies for a generation, arguing the county's rich and powerful want that to remain the case.

"Over the next three weeks they are going to tell you that everything in this manifesto is impossible," he said.

"That it’s too much for you. Because they don’t want real change. Why would they? The system is working just fine for them. It’s rigged in their favour.

"But it’s not working for you."

 

Telling voters 'Labour is on your side', Mr Corbyn said the party means what it says and will weather attacks from its opponents.

Referring nine times to billionaires in the speech, he pitted working people against the richest in society, attacking the 'super-rich, the tax dodgers, the bad bosses and the big polluters', who he said 'own the Conservative Party'.

Here we run down some of the key pledges in the manifesto, which you can read here.

Housing: 150,000 new affordable homes

The party is promising to build 100,000 new social homes a year by the end of the next Parliament, in a bid to address the country’s one million-strong waiting list.

Alongside homes, it would build 50,000 ‘affordable’ homes - a little more expensive than social, but using a stricter definition of affordability than at present government - annually via existing housing associations.

That £75bn funding would come from what it calls its ‘social transformation fund’, with half of that pot allocated to the programme.

Labour says there has been a 90pc drop in the number of government-funded affordable homes built since 2010, also pointing to the rocketing numbers of people aged 20-34 still living with their parents.

It says the plan would be the biggest affordable housebuilding programme since the 1960s, paid for through borrowing.

The announcement, released ahead of today’s manifesto, was queried by the independent Institute for Fiscal Studies think-tank, however, which warned it risked ‘cannibalising’ the private housing sector if not done correctly.

Cost: £75bn

Taxes: frozen if you're on under £80,000

This looks to be an expensive manifesto overall, with new day-to-day spending promises totalling just under £83bn.

Labour says the proposals have been fully costed, however, and you can read the workings in its funding paper here. All recurrent spending pledges are covered by parallel tax rises on wealth, business and higher earners.

The party plans to freeze income tax and National Insurance for anyone earning less than £80,000, as well as freezing VAT.

But it will introduce a 45p rate of tax for people earning over £80,000, as well as a new 50p rate for those earning over £125,000, described in the document as a ‘super rich’ rate.

In total, those income tax rises will raise £5bn, it says.

At the same time, corporation tax would gradually be increased back up to 21pc, raising £24bn, previous cuts to inheritance tax would be reversed and the tax exemption enjoyed by private schools would be scrapped.

Capital gains tax would also rise, in order to raise £14bn, part of a Labour move to tax wealth rather than the income of workers.

A tax on tech giants is also proposed in order to pay for the party’s free broadband package, as well as a windfall tax on oil companies.

As is the case with many other manifestos before this one and almost certainly in the future, Labour also claims to be able to raise £6bn by cracking down on tax avoidance.

Raises: £82.9bn

Nationalisation: Rail, mail, water, broadband

Labour are going for nationalisation full-throttle in this manifesto, which it is selling as a genuinely radical programme.

Rail, mail and water would all be nationalised wholesale, as well as part of BT. It does not promise to nationalise bus services nationwide, but would allow councils to take over services where they wish to.

Re-nationalisation of the railways has long been a priority of Jeremy Corbyn and polling suggests it is a popular one, too.

It isn’t entirely clear how much this would cost upfront and some very large figures have been bandied about by the party’s opponents, but Labour have not published any numbers as it believes that would effectively open negotiations with companies.

Over time, however, it says the benefits of the move would end up making it cost-neutral.

Labour would set up a new, publicly-owned rail company to run rail services, while it would also bring Royal Mail and energy utilities in-house too.

 

The widely-reported plan - announced last week - to nationalise part of BT in order to provide free broadband would cost at least £579m a year.

That would be rolled out everywhere by 2030 under the brand British Broadband.

Cost: unclear

Education: tuition fees, academies and Ofsted scrapped

The manifesto contains a raft of policies on education, headed up by Tameside MP and shadow secretary of state Angela Rayner.

She wants to launch a £24bn National Education Service in the mould of the NHS, with major plans all the way through from nursery to university.

Labour would scrap university tuition fees, as well as rolling out more further education availability - a sector it says has suffered ‘managed decline’ under the Conservatives.

The schools regulator Ofsted would be scrapped, with Labour having previously claimed it has failed to accurately assess schools and hit teacher recruitment.

Instead regulation would be undertaken by an arm of the new National Education Service.

Tory cuts to SureStart centres would be reversed and the programme stepped up, while paid maternity leave would be extended to 12 months.

 

By the end of the Parliament 30 hours of free nursery places for two-to-four-year-olds would be rolled out, 150,000 new nursery staff recruited and childcare would be made a graduate profession.

Primary class sizes would be capped at 30 pupils, arts lessons would be boosted in primaries and the academy and free school system would be scrapped entirely, signalling a return to the old system of local education authorities, where councils are responsible for admissions and the broad oversight of schools.

Cost: £24.1bn

NHS and social care: free personal care over 65; free prescriptions and dental check-ups

Another big-spend area, Labour say they will end the crisis in these two inter-linked systems.

The party is promising free prescriptions, hospital parking and dental check-ups, as well as an extra £1.6bn for adult mental health and £845m for children.

It would set up its own national drug company, intended to ensure the NHS doesn’t get ripped off by ‘big pharma' companies and has promised to stop the practice of tendering to the private sector for health services.

A £2bn capital pot - part of the party’s ‘social transformation fund’ mentioned above - would be used to upgrade mental health units, while the NHS as a whole would see an above-inflation 4.3pc funding increase each year.

Meanwhile the manifesto also contains a new policy on social care, which is in dire need of reform as the population ages and the system becomes increasingly pressurised.

Similar to in education, Labour would create a new National Care Service, initially including ‘free personal care’ for the over-65s - although it is not entirely clear what is included in that - while replacing the cash lost via council cuts under austerity.

There would also be a £100,000 cap on ‘catastrophic’ care costs for those suffering from long-term degenerative illnesses such as dementia.

Overall, Labour says it will double the number of people accessing free social care, also ending 15-minute visits and paying care workers for the time they spend travelling between appointments.

Nevertheless for such a huge policy area, the manifesto is a little short on detail.

Cost: £17.7bn, two thirds of which would be on social care

Pay and poverty: Universal Credit scrapped, £10 living wage

Labour has promised to end in-work poverty through a range of measures, including the housing plans mentioned above.

The Living Wage would be increased to £10 an hour for anyone aged over 16, up from its current £7.50 level for over-18s - people younger that currently don’t have a minimum wage.

Meanwhile workers would be entitled to collectively share 10pc of any company, with dividends of up to £500 handed out among them.

Public sector pay would be increased by 5pc initially, followed by annual above-inflation pay increases. There would be a maximum pay ratio - ie the difference between the lowest and the highest earner - of 20:1 within the public sector.

The party would also embark on a massive roll-back of Tory welfare programmes.

Universal Credit would be scrapped, although that would not happen overnight, so Labour would tweak the existing programme while drawling up a replacement.

The ‘bedroom tax’ would also be ditched, as well as the two-child benefit cap.

Local Housing Allowance - a major driver for homelessness in some parts of the country, including Manchester - would be increased, pinned to the 30th percentile of rents.

Cost: £14.3bn

Environment: A 'green industrial revolution'

Green policies are a substantial strand in the Labour manifesto, drawing in everything from energy to transport to job creation.

Under the party’s ‘green industrial revolution’, it would create more than a million jobs in new sectors intended to address climate change and to replace industries that have created pollution, increased carbon emissions and used up fossil fuels.

It aims to achieve ‘the majority’ of its carbon emission reductions by 2030 - a vaguer target than the one agreed by Labour conference in September - by delivering 90pc of electricity and 50pc of heat from renewable sources by then.

Shadow business secretary and Salford MP Rebecca Long Bailey, who is in charge of Labour's 'green industrial revolution'

As part of its plans to nationalise the energy industry, Labour would 9,000 new wind turbines, most of them off-shore, retrofit millions of homes to make them energy efficient and install enough solar panels to cover 22,000 football pitches.

It would also experiment with tidal power and build more nuclear power stations, while funding R&D to find replacement sectors for heavy industries such as steel and glass, focusing on new technology such as carbon capture.

In future climate change would be factored into all tax and spend decisions.

More than half of its £400bn transformation fund would be focused on the environment, used to transition the economy based on environmentally clean industries.

Cost: £250bn initially

Transport: East-west rail links in the north, HS2 to Scotland

Rail nationalisation is covered above, but there are other aspects of the party’s transport policy that are of note.

For a start, Labour has committed to the entirety of Northern Powerhouse Rail, the new network of east-west rail links envisaged by northern leaders - although Labour calls it CrossRail for the North.

That programme, worth around £39bn, would be joined by an extended HS2 that would run all the way to Scotland.

Labour is also promising a wide-scale electrification programme and the reopening of branch lines, similar to a pledge by Boris Johnson last week.

For those areas where councils do decide to re-regulate bus services, free passes will be provided for under-25s, while the party will restore grant funding cut in recent years to replace 3,000 lost routes.

It also wants to see only electric cars on sale by 2030, ten years earlier than the Conservatives, as part of its wide-ranging environmental programme (see above).

Much of this would be funded through the party’s £400bn ‘national transformation fund’, which will be based in the north and have branches in local areas, part of Labour’s wider pledge to decentralise.

Cost: hard to say, but at least £100bn