labour wants to nationalise the railways, the water companies in england and royal mail.party wants to scrap university tuition fees in england. it would reverse some of the cuts in welfare benefits and end the public sector pay freeze. and it would invest an extra £37 billion that's over five years. but labour's opponents say the figures are not credible, as our political editor laura kuenssberg reports. here it is — labour's proposed contract, with you. this would be his cabinet. this isjeremy corbyn‘s deal. cheering and applause a massive moment for the man, who two years ago, was a total outsider. i'm delighted to introduce to you, the leader of the labour party and our next prime minister, jeremy corbyn. a plan he believes the country needs. whatever your age or situation, people are under pressure, struggling to make ends meet. our manifesto is for you. listing plenty of crowd pleasers here. labour will scrap tuition fees, lifting the debt... cheering and applause labour is guaranteeing the triple lock to protect pensioners‘ incomes. applause and, labour will take o

until 2003, it belonged to the royal mail.d to the royal mail. the tunnel snaked tween and alongside the regular tube, the one we know about. i've been told to come to liverpool street station, the capital's a week to the east of england, to see it for myself. —— capital's gateway. this really is the bowels of the street. i think there are another set of stairs i need to go down. yes. hira. —— here. you can actually hear the odd tube train going down as well so we must be at that level. the station mirrors its counterpart on the central line just above us. itjust lacks nice tiling and polish. hello? higher. how are you? nice to meet you. amazing. it is almost like stepping back in time. it is how it was when they closed in 2003. this man has worked down here ever since it was decommissioned. he is one of three making sure that the tunnels are dry and save. how would it work? after a letter is received, if it needed to be transferred to the ra i lwa ys needed to be transferred to the railways are another officer would be banked

why not renationalise royal mail, too?o a state—owned rail service is rather sentimental, even an eccentric idea. well, the state did a reasonable job in the past, but previously the private corporations have done perhaps an even betterjob, so i think the guys who are more motivated to do the job should be the ones to run it. why do you think a lot of people are happy with the idea of nationalising railways? because railways are a treasure, aren't they? we do love our railways. so it's nostalgia ? it's absolute nostalgia, yes. but in a pick and mix of labour policies, rail nationalisation is popular. the investment hasn't gone in over the years, so if the private sector can't do it, then it's left to the public sector. i would be fine with that, no problem. if this election was a shopping trip, there's a lot of labour policy people seem to fancy. nationalise the railways, tax the rich. but the hardest currency on polling day is public trust, and jeremy corbyn needs to do better in that marketplace than he's done in the pas

, shopping those parcel delivery companies, notjust royal mail, the companies, notjust royal mail, thee numbers and they talked about brexit and fears around brexit and that is what they put down to fewer letters being sold is fewer companies, all those not sending as many letters, cutting costs in small areas. the fact they blame brexit is maybe an easy way out, because everybody else blames brexit for everything, to be honest, but the numbers are still good and we do very much by a lot online so parcels always being sent out. thank you. a re—capital markets. sentiment cautious among traders —— a recap of the markets. in the run—up to the election we're hearing from groups of people specially identified by the polling organisation ipsos mori. last week, we spoke to a group of voters who had all backed brexit. in the second of his election takeaway series, today presenter and former bbc political editor nick robinson, today presenter and former bbc political editor nick robinson, has been to bedford, to meet some people who wanted to remain in the eu. for this week's election takeaway

it includes plans to renationalise the water companies, as well as the railways and the royal mail. be more free childcare for 2—year—olds and some 1—year—olds. and university tuition fees in england would be scrapped. 0n taxation, it proposes a 45p tax rate on earnings of over £80,000, and 50p from £123,000, and a levy on companies which pay staff over £330,000. mr corbyn called the manifesto a "radical and responsible" plan for government. from bradford, where the manifesto was launched, here's our political correspondent iain watson. jeremy, the country is behind you! they say it's often better to travel hopefully then arrive. labour is still behind in the polls so it's leading politicians are crossing their fingers that the official launch of a detailed manifesto will turn things around. the labour leader says his manifesto is radical and responsible. the emphasis was on the former, not the latter. labour will take our railways back into public ownership and put passengers first. we will take back control of oui’ first. we will take back control of our country's water by bringin

we are talking about the row ways, the national grid, the royal mail.thatis document. labour people are saying that is because these are one of payments. it is capital spending. we are allowed to borrow for capital spending and therefore we don‘t have to include it. what we don‘t know is how much more is labour going to borrow? mr corbyn was asked but he did not answer. under these plans, what we face is more taxes on the rich, more spending on public services, and borrowing and the deficit will go up. he talked about this being a radical and responsible ma nifesto. this being a radical and responsible manifesto. how radical is it? more radical than anything ed miliband was proposing? this is radical. it isa was proposing? this is radical. it is a significant extension of the state and the public sector. they are talking about bringing back local government services which have been outsourced to the private sector. similarly, in the health service, they are talking about reversing the private sector, capping what they call excess profit. when you look a

until 2003, it belonged to the royal mail.ube, the one that we all know about. i've been told to come to liverpool street station, the capital's gateway to the east of england, to see it for myself. this really is the bowels of liverpool street. i think there's a set of stairs i am meant to go down. yeah, right here. that's better. you can actually hear the old tube trains kind of going down so we must be at that level. the station mirrors its counterpart on the central line just above us. itjust lacks that nice tiling and polish. hello, is it ray? yeah, it is. hi, how are you. i am henry. nice to meet you. it's amazing, isn't it. it's almost like stepping back in time, isn't it? it's pretty much how it was when we shut in 2003. nothing much has changed. ray's worked down here ever since it was decommissioned. he is one of three making sure the tunnels are dry and safe. how would it all work? after a letter is received at a sorting office if it needed to be transferred to the railways or another sorting office it would be bagg

the water industry, the railways and the royal mail would be re—nationalised.ax allowance. earners will pay more. we reckon it is about1.2 earners will pay more. we reckon it is about 1.2 million people. earnings above £80,000 will be taxed at a5%, with a 50% rate on earnings above 120 3000. labour says this will raise £6.a billion per year. the biggest increase in packs take according to labour's plans will come from a increase in corporation tax, a tax on business profits. labour plans to increase the rate to 26% by 2021. once that's done, labour says its corporation tax plans will raise an extra £19.a billion per year. one really important thing, though, that labour itself acknowledges is that companies and individuals change their behaviour when tax rates change. you also have to take into account the health of the overall economy. raising tax rates doesn't a lwa ys economy. raising tax rates doesn't always increase the overall tax take as much as predicted. there are other ways to increase revenue, for example a levy on what it calls excessive pay, a 2.5%

why not renationalise royal mail too.d rail service is rather sentimental, even an eccentric idea? well, the state did a reasonable job in the past but previously the private corporations have done perhaps an even better job. i think the guys who are more motivated to do the job should be the ones to run it. why do you think a lot of people are happy with the idea of nationalising railways? because railways are a treasure and we do love our railways. it's absolutely nostalgia, yes. but in a pick—and—mix of labour policies, nationalisation is popular. the investment hasn't gone in over the years, so if the private sector can't do it then it's left to the public sector. ifor one, i'd be fine with that, no problem. if this election was a shopping trip, there's a lot of labour policy people seem to fancy. nationalise the railways, tax the rich but the hardest currency on approximately day is public trust and jeremy corbyn needs to do better in that marketplace than he's done in the past, if labour ideas are to count for much

water companies, the royal mail, and so on.ow money to pay for future investment, it's talking about a national transformation fund of £250 billion but there is no detailed costing of those nationalisation plans in the ma nifesto. nationalisation plans in the manifesto. that will be the source of controversy and political debate. but labour does make one bold promise. it says it is committed to ensuring that the national debt is lola at the end of the next parliament than it is today. sam and rachel, i will start with you sam, on this. confusion about whether or not borrowing to buy back and re—nationalised utilities for instance, or british rail, the national grid, royal mail, or whatever, whether that actually comes under capital expenditure. the suggestion is that it doesn't, labour say it does. what was quite clear from labour say it does. what was quite clearfrom john labour say it does. what was quite clear from john mcdonnell this morning on the radio is that they have not decided how many of these renationalisation is w

among his key policies are nationalising the railways, water companies and the royal mail.ition fees and reversing some benefit cuts. and spending £37 billion on the health service in england. the pledges would be paid for — in part — by £48 billion of tax rises on business and on the highest earners. we'll be looking at those figures in detail and speaking to voters here in bradford but, first here's our political editor laura kuenssberg on labour's plan for government. here it is. labour's proposed contract with you. this would be his cabinet. this is jeremy contract with you. this would be his cabinet. this isjeremy corbyn‘s deal. a massive moment for the man who two years ago was a total outsider. i'm delighted to introduce the labour leader of the party and the labour leader of the party and the next prime minister, jeremy corbyn. a plan he believes the country needs. whatever your age and the situation, people are under pressure, struggling to make ends meet. our manifesto is for you. listing plenty of crowd pleaser is, here. labour will scrap tuition fees, lifting th

investment spending, although is nationalisation plans you have heard about, water companies, the royal mailey to pay for future investments, talking about the national transformation fund of £250 billion, but there is no detailed costing of those nationalisation plans in the ma nifesto. nationalisation plans in the manifesto. that will be the source of controversy and political debate, but labour does make one bold promise, it says, it is committed to ensuring that the national debt is lower at the end of the next parliament than it is today. here it is, the labour manifesto for the many, not the few, 124 pages, and the conservatives have been reacting to its content. david gauke, the treasury minister.m contains a number of tax proposals which are likely to damage the economy, damage wealth creation, and feed through into fitting wages. the reality is that the people who will pay the price for the pledges we have heard today from the labour party are ordinary working families. they will see their taxes rise, that is the only way the sums can add up under what we have heard today. let's tal

that was a lea k of royal mail and so on.s have developed close relationships across the border with the republic of ireland. they fear those links maybe put it risk by the return of a hard border. dominic oconnell has been looking at the northern irish economy and what a return to a hard border might mean for business there. this is what will be once britain leads the european union, the main land border between the two. might not look like in the tranquil of this block art and international frontier. over there is republic of ireland and hear the uk. wasn‘t a lwa ys ireland and hear the uk. wasn‘t always this peaceful, of course, it is to be a militarised border with checkpoints. now businesses are worried about britain‘s vote to leave the eu. and what happens next. some of the most worried farmers and food processors in the north who forged deep oration ships in the republic. this man says his organisation makes constant use of the open border. we process livestock in northern ireland and the republic of ireland, employing

the document includes plans to nationalise the railways, royal mail and parts of the energy industryition fees. good morning, it's thursday 11th may. also this morning — a record fine for a company that made 100 million cold calls injust 18 months. living with hiv. why those on the latest treatments can expect to live just as long as those without the condition. good morning. today i am

manifesto — and claims jeremy corbyn is planning to re—nationalise energy firms, the railways and royal mail. the i says the uk is facing a huge rise in stroke cases. the daily express says a heatwave is about to hit the uk.

labour wants to nationalise the railways, the water companies in england, and royal mail.ants to scrap university tuition fees in england. it would reverse some of the cuts in welfare benefits and end the public sector pay freeze. and it would invest an extra £37 billion in the nhs in england. but labour's opponents say the figures are not credible, as our political editor laura kuenssberg reports. here it is — labour's proposed contract, with you. this would be his cabinet. this isjeremy corbyn‘s deal. cheering and applause a massive moment for the man, who two years ago, was a total outsider. i'm delighted to introduce to you, the leader of the labour party and our next prime minister, jeremy corbyn. a plan he believes the country needs. whatever your age or situation, people are under pressure, struggling to make ends meet. our manifesto is for you. listing plenty of crowd pleasers here. labour will scrap tuition fees, lifting the debt... cheering and applause labour is guaranteeing the triple lock to protect pensioners' incomes. applause and, labour will take our railw

manifesto — and claims jeremy corbyn is planning to re—nationalise energy firms, the railways and royal maily mirror also claims to have had access to the labour manifesto. the i says the uk is facing a huge rise in stroke cases. the daily express says a heatwave is about to hit the uk. and they say it means britain is heading for a drought. the times talks about a spat between the chancellor philip hammond and theresa may's aides. and the daily mail describes the leaked labour manifesto as the most left—wing in decades. right, let's start. martin, would you set us up? jeremy corbyn, the ma nifesto you set us up? jeremy corbyn, the manifesto seems to have been exclusively in several papers, which i know it's a bit strange. let's start with the daily mirror headline, which says it pretty well. it does. it leads into a peek inside spread as well, detailing this lea ked spread as well, detailing this leaked draft, setting out a very extensive range of policies which the mirror builds very favourably, the mirror builds very favourably, the other papers we will come to our obviously much less fav

programme, so promise a big nationalisation programme, so energy firms, railways, bus firms, the royal mailngs being nationalised under labour. the policy detail will be scrutinised when the final document is published. what this leak tells you is the extent to which there are divisions in disputes within the labour party, tempting some to leak this document rather than being sufficiently disciplined to sit on their hands and wait for its formal publication. labour tonight saying they don't comment on leaked documents. thank you. labour and the liberal democrats have both promised to invest billions of pounds more in education if they win the election. both parties say they would pay for it by significantly raising business taxes. the conservatives say school funding has already reached record levels, and accused their rivals of made up promises. 0ur education editor bra nwen jeffreys reports. we're going to take lots of measurements of how long it takes for the sound to get to us. measuring the speed of sound in cambridge. today a lesson in politics as well as science — news travelling of

the 45—page draft we have seen spells out plans to nationalise the railways, royal mail and parts ofrgy industry, to abolish tuition fees in england, to restore some welfare benefits and scrap the bedroom tax and to provide £8 billion for social care. are you angry at the allegations that your staff leaked the manifesto? in a frenzy over who told the world... reporter: are you responsible for the leak? don't be silly. what do you make of the leak? that was naughty, wasn't it? labour shadow ministers, officials and union bigwigs were due to arrive to sign it off. we are here today to decide the final version and i'm sure it will be an exciting programe that will attract as many voters as possible to the labour party. i'm absolutely certain that ordinary labour voters want an increase in the minimum wage, the abolition of zero hour contracts, agency workers dealt with, with investment in our industries... reporter: and nationalisation? of the railways! eventually, the leader sped in to "dot the is and cross the t‘s." inside, labour's top brass discussed tax rises for the very wealthies

they are going to renationalise the railways and they are going to renationalise royal mail and partsy. so there is a lot of promise here. there are costings, but you have to ask the question, you know, this is called a programme of hope. they are kind of hoping that they can find the money. it is difficult for parties in opposition. they don't have a battery and army of civil servants to go through all of the figures the way that the government can. nonetheless, there has to be approximation between what you want to achieve and what you can afford to achieve and what you can afford to achieve. absolutely. of course they are relying on the people who are being taxed, you know, the tax rate is going to go up to 50% for those earning more than £133,000, that they are not clever enough to find ways of making sure that they don't pay that legitimately! it is very interesting, they are going to also have an excessive pay tax on companies, 2.5%, who gives packages of more than £300,000 to their employees. this is going to be... a lot of companies will have to find ways of giving their emplo

the draft included radical plans to renationalise large parts of the economy, including royal mail andain operators‘ franchises run out has been the party's policy for a number of years. but how would this actually work in practice? and is it feasible? let's talk to my guests. transport writer christian wolmar, who has links with the labour party, and sam dumitriu, research economist for the adam smith institute. welcome to you both. kristian, it is perfectly true to say that this is a policy that has been in labour party ha nsford policy that has been in labour party hansford sometime. although people wondered whether it would be what of down a bit in terms of the final version. what do you make of what you have seen? this is quite a simple policy that is not actually cost anything. what would happen is that when franchises run out, the contract between the government and private train operators, when they run out, they will run for five, 710 yea rs run out, they will run for five, 710 years and then simply revert to the government. and then they would be run by probably a new body, m

it includes proposals to renationalise the water companies, as well as the railways and the royal maile would be more free childcare for two—year—olds and some one—year—olds. and university tuition fees in england would be scrapped. 0n taxation, it proposes a 45p tax rate on earnings of over £80,000. and a 50p rate for those earning more than £123,000. there will also be a levy on companies which pay staff over £330,000 pounds a year. mr corbyn called the manifesto a "radical and responsible" plan for government. from bradford, where the manifesto was launched, here's our political correspondent, iain watson. jeremy, the country is behind you! they say it's often better to travel hopefully then arrive. labour is still lagging behind in the polls so its leading politicians are crossing their fingers that the official launch of a detailed manifesto will turn things around. the labour leader says his manifesto is radical and responsible. it may look like a little red book. the emphasis was on the former, not the latter. labour will take our railways back into public ownership and put pass

document leaked last week included plans to nationalise the the railways, the national grid and royal mailfor the manifesto launch can tell us. this is a transformational ma nifesto. this is a transformational manifesto. it is about building a fairer britain for the many, not the few and we've had seven years of disastrous policy from the tory party. they haven't improved standards and haven't improved the productivity of businesses so we need to have a new deal for our economy and a fairer deal for british people. you're planning to spend according to the institute of fiscal studies upwards of £75 billion. why is that a good thing? well, the institute for fiscal studies, not that i am aware, have seen ourfinal studies, not that i am aware, have seen our final manifesto, so studies, not that i am aware, have seen ourfinal manifesto, so i studies, not that i am aware, have seen our final manifesto, so i won't comment on what they have seen or what they have assessed, but i'm sure they will provide a full reassessment after the manifesto has been published. it will go up, it will be above £7

renationalising things like the energy markets, the royal mail, the energy markets, the royal mail, the quite specific issues on train drivers and strikes, which have clearly been written into the manifesto looking at which different groups labour has to satisfy in order to get this manifesto passed and proved before it goes to the public. i wonder how well those things will go down with the wider population, many of whom are not part of the labour movement. i know you will not tell me how it has happened, but i am curious how the telegraph gets hold of a labour d raft the telegraph gets hold of a labour draft manifesto, how a right—leaning paper gets this manifesto. how did those circumstances arise? paper gets this manifesto. how did those circumstances arise ?” paper gets this manifesto. how did those circumstances arise? i would say good journalism and a good journalist would never reveal their sources, so i cannot talk about how we came by that leak. it is good journalism, that is how it works. labour is about to have a huge conversation about is manifesto today were it decides wit

water companies and the royal mail.estments talking about a national transformation fund of £250 billion, but the there's no detailed costing. that'll be the cost of controversy and debate but labour makes one bold promise. it says it is committed to ensuring the national debt is low at the end of the next parliament than it is today. let's talk now tojonathan portes, professor of economics at king's college london — he was chief economist in the cabinet office under gordon brown, hejoins us from edinburgh. good to see you. first of all, you we re good to see you. first of all, you were ina good to see you. first of all, you were in a junior position in the treasury during water privatisation? i was indeed. i was on the team. and how difficult is it going to be potentially for a future labour government if they wind to reverse that? it will be quite difficult because you will have to set the price at which the shares are brought back, with reference to the market price, quite a lot of money, or determined some other way

until 2003, it belonged to the royal mail. it for myself. this really is the bowels of liverpool street. i think there's a set of stairs i am meant to go down. yeah, right here. that's better. you can actually hear the old tube trains kind of going down so we must be at that level. the station mirrors its counterpart on the central line just above us. itjust lacks that nice tiling and polish. hello, is it ray? yeah, it is. hi, how are you. i am henry. nice to meet you. it's amazing, isn't it. it's almost like stepping back in time, isn't it? it's pretty much how it was when we shut in 2003. nothing much has changed. ray's worked down here ever since it was decommissioned. he is one of three making sure the tunnels are dry and safe. how would it all work? after a letter is received at a sorting office if it needed to be transferred to the railways or another sorting office it would be bagged up and sent down to us and our trains ran it from east london at white chapel to paddington in the west and it was a loop and we would sen

royal mail cannot steam open all the envelopes to see if criminals are sending letters.hat they consider illegal material. for the mps who wrote the report today that is not acceptable. they are expecting the tech giants to do more. more than 2.5 million american soldiers have been deployed to iraq and afghanistan in the 16 years since the start of the war on terror. but the politics of war often gain more attention than those who actually fight in them. the national portrait gallery in washington is now, quite literally, putting a face to the men and women who serve with a new exhibition — the face of battle. jane 0'brien went along. in spite of the title, faces of war, some of the most moving images in this exhibition show nobody. these are the empty bedrooms of fallen soldiers, their very absence creating a haunting presence. that familiar intimacy is captured more traditionally in the work of stacy pearsall. this is a picture i took of specialist garcia. i had to catch him chain—smoking. blowing the smoke out, drifting around his head like a halo. an air force combat

there are plans to renationalise the railways, also to reverse the sale of royal mail and to create publiclyn of extra annual funding for the national health service. that will paid for by raising income tax on the top 5% of earners. and £250 billion on infrastructure spending over the next 10 years. let's bring in mark from westminster. voters can't complain they don't have some distinct choices here. that is absolutely the point. there are some eye watering proposals. on top of what you mentioned, they want to end tuition fees, banff mentioned, they want to end tuition fees, ba nff racking mentioned, they want to end tuition fees, banff racking and have national pay bargaining for certain industries. what wasn't mentioned in this leaked draft manifesto, the question mark over all of this, is the cost. how much will it all cost and how will they pay for it. we don't know the answer to that yet. we did have a taster recently when the labour party said they would increase the taxes on business, corporation tax. economists have come out and said that might not work because if you raise it, you

you have the labour party wanting to nationalise the railways and renationalise the royal mail and getlabour party. what you would expect from jeremy corbyn who has been setting that store ad for some time but what is perhaps more contract that swagger more surprising, the conservatives used to say, the markets get on with it —— what is more surprising. a massive change in tone, they are saying babel capped energy prices and get involved in markets, have a close look at any ta keovers markets, have a close look at any takeovers make sure they are any public interest. much more of a lurch to the left the right if you like. i have family visiting from australia, and they were saying, they were stunned. if they are watching, they are lefties, labour, but they are saying that the tory ma nifesto but they are saying that the tory manifesto is something like the labour party. it could read like an old labour party manifesto and the interesting thing is, businesses i have been talking to chief executives and getting their reaction, and they say at the moment they feel pretty friendless, being

another big story today, royal mail posting a big rise in profits as parcels improved.mproving, annual profits up by 25%. growth in parcel delivery business, it would seem parcel delivery business, it would seem it is doing well. it does well from online, we send fewer letters but we get more parcels delivered because of our online shopping habits. full details on the website. european markets, markets worldwide, we are watching them very closely as the turmoil surrounding the white house and the trump administration intensifies. so let's quickly show you how things are going right now so you have a sense of how the european day is progressing. down half a percent in london and elsewhere. this was after quite heavy losses yesterday as well for the european markets, so not a change in sentiment yet. the big question, can president trump get through those reforms he promised? markets are increasingly doubtful that will happen. all businesses need somewhere to work but for many being able to shrink or grow their office is neither easy nor cheap. so companies that provide r

royal mail shares are up thanks to the increase in parcel deliveries. that‘s all the business news. te. princess mako, who is the eldest granddaughter of emperor akihito, is getting engaged to 25—year—old law firm worker, kei komuro. japan‘s imperial law requires a princess to leave the royal family after marrying a commoner. the move is expected to re—ignite debate on royal succession, as the 83—year—old emperor is expected to abdicate soon. much more coming up from me at the top of the hour. time for a look at the weather... good afternoon we have had some particularly dry weather in recent weeks and months. yesterday we had some particularly wet weather. you can see this big lump of cloud that swept can see this big lump of cloud that swe pt a cross can see this big lump of cloud that swept across many parts of the country, heavy rain was the south—east. on the face of it we have lost that wet weather but there is another lump of cloud waiting in the wings down here across the near continent and that will be printing some rain across southern and eastern parts of the country later

draft document, leaked last week, included plans to nationalise the railways, the national grid and royal mailise england's nine regional water companies. our political correspondent, ben wright, is at westminster. is what more details do we have? this is further proof labour government would fundamentally change the way the key industries are run. labour says since water was privatised in 1989 higher bills have meant a poorer service and they point out that in the last decade water companies have paid their shareholders £18 billion in dividends. labour says if it was to be taken back into public ownership that money could be redirected into a better service and lower bills for households. they say they could come down about 25%. the key question is how much this will cost. when labour's manifesto is published in full tomorrow it will be scoured for proof that their sons had a panic and be paid write thank you. essex police have spent the day searching a block of garages in thurrock for the body of a schoolgirl who went missing 16 years ago. danielle jones was 15 when she was abducted and murd

election manifesto has been leaked, and it includes radical plans to renationalise the railways and royal mail, to scrap university tuition fees in england, and to end the public sector pay cap. the long document also includes plans to fund the nhs and social care through an increase in income tax for higher earners. the manifesto is due to be formally launched next week, and is being discussed today by the shadow cabinet. our political correspondent eleanor garnier reports. it wasn't meant to be like this. labour's first election launch, they had wanted to focus on attacking the tories. good morning, everyone. instead, it is their leaked ma nifesto instead, it is their leaked manifesto everyone is talking about. a d raft manifesto everyone is talking about. a draft version now out there for all to see, a whole week early. this morning, though, no sign of the leader as originally planned. he was meant to be here, but these things happened, and mr corbyn is dealing with internal matters. so it was left to others in labour to play down the significance of the league. the draft includes proposals

the document includes plans to renationalise the railways, royal mail and parts of the energy industryersity tuition fees in england, and a ban on "fracking". our chief political correspondent vicki young is outside the meeting in central london. how embarrassing is this for the party? well, i think initially the idea that this has been leaked, an entire ma nifesto, that this has been leaked, an entire manifesto, of course, that is embarrassing. they would have had a plan to butt out various different announcements over the next few days and then have the big launch next week. that is all now thrown out of the window, but i think in the longer term, it probably doesn't matter too much to voters who don't follow these things as closely. labour people would say, we are now at least at the about policies. they say there have really been no policy ideas from the conservatives, but now they can get stuck in, talking about issues that matter to people, and there is no doubt that this is a radical programme. this is certainly jeremy corbyn's vision, which he wa nts to jeremy corbyn's vision,

the policies of renationalising the railways, the water companies, royal mail, there was no costingsw their answers, jeremy corbyn‘s answers is that it depends on at what point these nationalisations happen. there are questions. as to the tax rises, there is a school of thought that suggests that if tax rates go up, people will change their behaviour, companies will change their behaviour and the tax revenue that labour is banking on will not actually materialise. but i think the answer that labour is giving to people who say this is so far fetched, the conservatives are saying, look the sums don‘t add up. labour‘s argument is that they are presenting a radically different proposition for the uk economy.” spotted this tweet earlier from tim shipman, the political editor of the sunday times, corbyn looked relaxed and composed. it helps when you‘re presenting things you believe. it is worth noting that for all the pressures onjeremy corbyn, he‘s delivered a set of policies here that are in his image. absolutely. you know, cast your mind back to when he came to power, completely unexpec

the party says it will renationalise the railways, reverse the sale of royal mail and create publicly £6 billion of extra annual funding for the nhs, paid for by raising income tax for the top 5% of earners. and £250 billion will go on infrastructure spending over the next ten years. 0ur correspondent tom symonds is in our westminster studio. it was a surprisingly cruel. no one saw it coming, and it was very revealing. it was. they say there is no such as bad publicity. the labour party had a lot of bad publicity today but there is that feeling that this should not have happened. it has put the party on the back foot. everyone can now prepare their rebuttal to the labour party ma nifesto rebuttal to the labour party manifesto when it comes out early next week. it has told us roughly what the party will do and it is a huge change to what we have seen labour governments do in the past. this party, labour, would become, if given power, a party of taxing, of borrowing and of spending. i went through some of the spending commitments in the draft manifesto today, and assuming that is in the

the document, seen by several newspapers, also pledges to return royal mail to public ownership and bring energy price cap. norman smith is at a labour campaign event in central london. well, there is a lot in here, that a lot will say is transformative, radical, how much will be in the actual manifesto next week? well, labour folk are not denying the authenticity of the leaked document. but some are incredulous that it has been leaked, because it does seem to bea been leaked, because it does seem to be a deliberate attempt to destabilise and damage jeremy corbyn, although his people are saying there is not going to be any witchhunt or recriminations, we are relaxed about it, it gives us a chance to talk about policies. he was meant to be here at the poster launch, he has not turned up so he can concentrate on the meeting later today to finalise the details of the ma nifesto. today to finalise the details of the manifesto. what did we learn from the draft? we learned thatjeremy corbyn is going into the election with a vast number of pledges, everything from headline pledges about scrappin

plans to reverse the privatisation of royal mail "at the earliest opportunity". of maintenance grants for university students and a pledge to abolish university tuition fees. 0n energy — the document includes a policy of creating at least one publicly—owned energy company in every region of the uk, with public control of the transmission and distribution grids as well as an immediate emergency price cap to ensure the average duel fuel household energy bill remains below £1,000 per year. and despitejeremy corbyn‘s previous suggestions — the document promises support for the renewal of the trident submarine system. john mcdonnell has described the lea k of john mcdonnell has described the leak of the manifesto is disappointing, but says it is a modern set of proposals. he was speaking to reporters this morning. do you know who leaked your manifesto, mr mcdonnell? no, we don't. disappointing, though, but there you are. we'll have the clause v meeting today and that will decide the final manifesto. you are working through it. do you recognise these policies? do you w

royal mail has posted a healthy package of figures showing annual profitsjumped by a quarter.er of letters posted fell by 6%. sterling is having a field day, especially against the us dollar where it's broken above the 1.30 level for the first time since september, but today's moves are part of a trend that's been in place since at least mid—march. the dollar in general has been weighed down by policy disappointment and political risk. joining me now is azad zangarna, senior european economist at schroders. so the strong sterling reflects optimism about the health of uk economy? it tells us that the household sector is more resilient than thought to the rise in inflation and of course wages not quite #k50e7ing up with the increases in prices. households have been able to dip into savings or borough money to maintain spending habits, which is good for the economy. that is interesting it leads to the optimism about the strength of the economy, the rise of sterling. short—term, that might be good but is there not risk involved in that, if the wages are not keeping up with inflati

a little bit of royal mail. anna: that is coming in. adjusting their eps beating estimates. also bidding on the revenue line. are at 9.63. politically very topical. the labour party have made it known what they plan to do with this business should they get into power at the forthcoming election. is what the polls show it now. a quick line on securities. capital return is something that is topical in this business and they have given us a little word on the outlook. they say it is unlikely for london rental values to grow in 12 months. just one last line from burberry. they are sticking with their full-year guidance. full-year revenue will match estimates, that is important in terms of what they are sticking to. one line on national grid. slightly ahead of what the market had expected and the dividend 29 .01. will have a conversation with the ceo joining the television crew later. anna: yesterday we saw equity markets setting off, risk aversion trade plenty. today in asia that has been the story but they have to play more catch ups and perhaps the european markets do. pointin

tonight at six — from the railways to royal mail, public ownership is at the heart of labour's leaked that we have a government in britain onjune the 8th that will work for the many, not the few. labour unveils its election poster — but some in the party have their own thoughts on what actually matters. let's get real. the tories are 20 points ahead in the polls. it's the tory manifesto people need to be focusing on, seeing what they're doing in government. we'll find out what potential voters think of the new policies. also tonight: a warning from the bank of england — you'll feel the pinch in your pocket as inflation is set to rise.

been leaked to the media and that draft included radical plans to renationalise the railways and royal mailscrap university tuition fees in england, and to end the public sector pay. mr corbyn has been speaking in the last few minutes and said that there are some amendments to that draft document. vicky young is our chief political correspondent following events for us. correspondent following events for us. asjeremy corbyn was just saying, this was a unanimous decision by the shadow cabinet national executive, surely meeting to agree their manifesto. but from the drug that has been leaked, what do we know about what they will be promising? —— draft. this meeting went on for about four hours and whenjeremy went on for about four hours and when jeremy corbyn came went on for about four hours and whenjeremy corbyn came out he did talk about the fact that it had been passed and usually this kind of process would take a very long time, putting together an election ma nifesto. putting together an election manifesto. 0bviously, on this occasion, with a snap general election, they have had to do i

royal mail risen the most since july, hit a four-month high, and full-year revenue, a beat for burberrydjusted pretax profit. but then, fiat chrysler down 6%, hitting a one-month low and dropping the most in a month to as the u.s. justice department is preparing to sue the carmaker if talks fail. that lawsuit could be filed as soon as this week according to people briefed on the matter. much indeed.u very stay with bloomberg television. of next, it is "surveillance." that is here on bloomberg tv. matt and i -- probably me for now. hopefully, matt will join in. radio.dab we will continue the conversation. this is bloomberg. ♪ mark: the white house grapples with its latest scandal. robert mueller will lead a probe into russian interference into the 2016 election. brazil plunged back into political crisis. amid reports the president was involved in a cover-up as protesters take to the streets is this roussef part two. the u.k. prime minister will target the elites

s general election manifesto has been leaked and it includes radical plans to renationalise the royal mailen southwood from the free market think tank, the adam smith institute, he‘s in westminster. and cat hobbs is the founder of the we own it campaign group, which is against the privatisation of public services. she‘s in our 0xford studio. let‘s start off with you. labour talk about renationalisation according to this draft which has not been confirmed, but do you think it‘s a good idea? not been confirmed, but do you think it's a good idea? an absolutely fantastic idea and it‘s great it‘s on the table. passengers on the public are sick of privatised railway and the fact is it doesn‘t have to be this way. we don‘t have to have ever spiralling fairs, packed carriages, and we could bring each rail franchise into packed carriages, and we could bring each railfranchise into public ownership instead of renewing it with private companies again and again and that‘s a perfectly good proposal. what do you say to that? the argument is i suppose, yes, privatisation works in some industries but when