Corbyn to set out plans to renationalise railways

Jeremy Corbyn wants to re-nationalise Britain's railways

- Rail fare increase outrage

Jeremy Corbyn has pledged to "rebuild and transform" the UK's transport network as he sets out plans to bring the nation's railways back into public ownership.

The Labour leader believes a move to public ownership of the railways is needed in order to address the "transport nightmare" currently faced by commuters.

Mr Corbyn, who is locked in a fierce battle for the party leadership with Owen Smith, insists the move could save passengers up to 10% off their fares.

He also wants to introduce measures to expand bus routes into isolated areas.

Mr Corbyn will outline the policies as he launches his so-called "Transport Tuesday" initiative.

Speaking ahead of the launch of "Transport Tuesday", Mr Corbyn said: "The Southern rail debacle just goes to show how private transport operators cannot be trusted with having passengers' best interests at heart.

"Public ownership of our railways is needed now to fix the transport nightmare we are currently faced with, and we know there is overwhelming support among the British public for a people's railway.

"It is only by bringing the railways back under public ownership as the contracts expire, that will fix the rail crisis and I'm pleased that even some Tory politicians are now joining us in calling for Southern rail to immediately be brought under public ownership.

Rebuild and transform Britain's transport system

"Today I am also pledging that under my leadership, the next Labour government, will enable all local authorities to have franchising powers over their bus networks and enable all local authorities to establish municipal bus companies.

"Together these plans for the bus and rail network will help us rebuild and transform Britain's transport system, so that no-one and no community is left behind."

Moving the UK's railways into public ownership would release cash to improve services and lead to lower regulated fares by as much as 10%, according to research commissioned by the TUC and cited by Mr Corbyn's leadership campaign.

Meanwhile, Mr Corbyn believes his plan to extend public control over the bus network would release more than £500 million in resources per year, allowing for services, particularly those in rural areas, to be improved.

Shadow transport secretary Andy McDonald said: "People rely on our public transport for getting to work, visiting friends and families.

"Our public transport needs to be run in the interests of the public - not private companies.

"It's why these latest policies from Jeremy Corbyn are to extend public control over our buses and to take our railways back into public hands. Taking the railways back into public hands was long supported by Labour conference and I am pleased it is now official Labour party policy"