Jeremy Corbyn to promote Welsh development bank plans during constituency visits

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Jeremy Corbyn has said Labour's plans for a Welsh development bank will transform the country's economy.

The Labour leader is to continue his summer tour of marginal constituencies with visits to Conservative-held Aberconwy and Plaid Cymru-held Arfon on Saturday.

Ahead of the visits, Mr Corbyn said Labour's investment-led plan for the economy will develop "the jobs, skills, infrastructure and industries of the future".

The opposition leader said: "People in Wales need a government in Westminster that is on their side.

"The next Labour government will transform our economy... supported by our National Transformation Fund and a Welsh development bank, building on the Welsh Labour Government's Development Bank of Wales.

"Prices are surging ahead of wages, as all but the richest face a lost decade under the Tories.

"People need a pay rise - Labour will bring in a £10 minimum wage by 2020 and end the public sector pay cap - and bills to be brought under control.

"We will end the rip off of privatised rail and introduce an emergency energy price cap while we create the option of a publicly-owned energy system, to put money and control back in people's hands."

Aberconwy is held by Tory Guto Bebb with a slim majority of 635 votes, while Plaid's Hywel Williams holds Arfon with an even tighter lead of 92 votes.

Mr Corbyn said: "We can win here and form the next government that will work for the many not the few."