Jeremy Corbyn suggests 'gig economy' should be replaced by cooperatives

Jeremy Corbyn has suggested that 'gig economy' contracts should be replaced by cooperatives as he accused the Conservatives of presiding over a "broken" economic model.

The Labour leader said he wants to radically overhaul a system of inequality which is driving up poverty among vulnerable groups and harming the economy as a whole.

He set out Labour's plans to transform Britain's economic model, so the benefits of new technology are spread more widely, in a speech to the Co-operative Party conference.

Philip Hammond says that Labour poses - and I quote - 'an existentialist challenge to their economic model'.

Well, Philip, yes, we do!

We're not going to sit back when their economic model is seeing homelessness double, four million of our children living in poverty, over a million older people not getting the care they need.

Their economic model is broken, it doesn't work for most people and even the IMF thinks inequality and low taxes for the richest are harming the economy.

– JEREMY CORBYN