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| Jeremy Corbyn: I'd consider restoring Clause IV on public ownership | Jeremy Corbyn: I'd consider restoring Clause IV on public ownership |
| (35 minutes later) | |
| Jeremy Corbyn has said Labour could restore Clause IV committing it to public ownership if he became leader. | Jeremy Corbyn has said Labour could restore Clause IV committing it to public ownership if he became leader. |
| The clause backing "common ownership of the means of production, distribution and exchange", was scrapped under Tony Blair in 1995. | The clause backing "common ownership of the means of production, distribution and exchange", was scrapped under Tony Blair in 1995. |
| Speaking to the Independent on Sunday, Mr Corbyn said Labour "shouldn't shy away" from public control of railways and public investment in industry. | Speaking to the Independent on Sunday, Mr Corbyn said Labour "shouldn't shy away" from public control of railways and public investment in industry. |
| Leadership rival Liz Kendall told the paper Clause IV belonged in the past. | Leadership rival Liz Kendall told the paper Clause IV belonged in the past. |
| Tony Blair's move two decades ago to ditch the long-standing commitment in Labour's constitution to public ownership was seen by some as a symbolic step which made the party more electable in the post-Margaret Thatcher era. | Tony Blair's move two decades ago to ditch the long-standing commitment in Labour's constitution to public ownership was seen by some as a symbolic step which made the party more electable in the post-Margaret Thatcher era. |
| The original wording of Clause IV was replaced with a new commitment to "a thriving private sector and high-quality public services where those undertakings essential to the common good are either owned by the public or accountable to them". | The original wording of Clause IV was replaced with a new commitment to "a thriving private sector and high-quality public services where those undertakings essential to the common good are either owned by the public or accountable to them". |
| 'Clearer objectives' | 'Clearer objectives' |
| Mr Corbyn told the IoS he could consider bringing back the old Clause IV as part of a commitment to take "necessary things" back into public ownership. | Mr Corbyn told the IoS he could consider bringing back the old Clause IV as part of a commitment to take "necessary things" back into public ownership. |
| "I think we should talk about what the objectives of the party are, whether that's restoring the Clause IV as it was originally written or it's a different one, but I think we shouldn't shy away from public participation, public investment in industry and public control of the railways," he said. | "I think we should talk about what the objectives of the party are, whether that's restoring the Clause IV as it was originally written or it's a different one, but I think we shouldn't shy away from public participation, public investment in industry and public control of the railways," he said. |
| "I'm interested in the idea that we have a more inclusive, clearer set of objectives. I would want us to have a set of objectives which does include public ownership of some necessary things such as rail." | "I'm interested in the idea that we have a more inclusive, clearer set of objectives. I would want us to have a set of objectives which does include public ownership of some necessary things such as rail." |
| Analysis by BBC political correspondent Ben Wright | Analysis by BBC political correspondent Ben Wright |
| Mr Corbyn's campaign momentum seems unflagging - to the alarm of senior figures in the party. But he says the party needs a new statement of objectives - and that could be the original Clause IV. | Mr Corbyn's campaign momentum seems unflagging - to the alarm of senior figures in the party. But he says the party needs a new statement of objectives - and that could be the original Clause IV. |
| Jeremy Corbyn has already promised to renationalise energy companies and the railways and increase public spending on industry. One of Mr Corbyn's leadership rivals, Liz Kendall, condemned the idea as a "throwback to the past". | Jeremy Corbyn has already promised to renationalise energy companies and the railways and increase public spending on industry. One of Mr Corbyn's leadership rivals, Liz Kendall, condemned the idea as a "throwback to the past". |
| Some party donors are alarmed by the prospect of a Jeremy Corbyn win too. Businessman Assem Allam, who donated £300,000 to Labour during the election, has told the Sunday Telegraph he would stop giving money to the party if Mr Corbyn becomes leader, saying he never backed a "dead horse". | |
| Mr Corbyn is one of four candidates standing in next month's Labour leader election, alongside Liz Kendall, Yvette Cooper and Andy Burnham. | Mr Corbyn is one of four candidates standing in next month's Labour leader election, alongside Liz Kendall, Yvette Cooper and Andy Burnham. |
| Ms Kendall - the leadership challenger seen as being the closest to Mr Blair's policies - fiercely condemned the idea of bringing back Clause IV. | Ms Kendall - the leadership challenger seen as being the closest to Mr Blair's policies - fiercely condemned the idea of bringing back Clause IV. |
| "This shows there is nothing new about Jeremy Corbyn's politics," she said. | "This shows there is nothing new about Jeremy Corbyn's politics," she said. |
| "Life had moved on from the old Clause IV in 1994, let alone 2015. We are a party of the future, not a preservation society." | "Life had moved on from the old Clause IV in 1994, let alone 2015. We are a party of the future, not a preservation society." |
| Labour leadership contest | Labour leadership contest |
| At-a-glance profiles of the four contenders | At-a-glance profiles of the four contenders |