Corbyn to launch Labour's new business initiative

Jeremy Corbyn will launch a campaign to formulate "a new business settlement that benefits both workers and employers".

Labour's Workplace 2020 initiative is aimed at boosting the rights of employees and encouraging trade union membership.

Mr Corbyn first unveiled the idea when he addressed the May Day rally in London - the first time the head of the party has addressed the rally in 50 years.

At a formal launch event at green energy company Ecotricity in Stroud, he is expected to say: "Workplace 2020 will be at the heart of how Labour is going to develop our alternative for the workforce of the 21st century.

"Instead of David Cameron's Agency Britain, with its zero hours contracts, insecurity and wage undercutting, we will be engaging with workers and employers to shape the policies that will deliver the high quality jobs of the future.

"Instead of a race to the bottom in jobs, pay and workplace rights, we will be shaping a different approach for the 2020s: based on a full-employment, high-skilled workforce, with decent pay, rights for employed and self-employed, and a voice at work through collective bargaining.

"That's the basis for a new business settlement in the economy of the future, one that benefits both workers and employers - and break with the low-pay, low-investment, low-productivity record of Tory Britain."