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| Version 7 | Version 8 |
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| Jeremy Corbyn backs greater public ownership for Labour | Jeremy Corbyn backs greater public ownership for Labour |
| (about 1 hour later) | |
| A debate on public ownership of firms is needed, but restoration of "Clause IV" is not a priority, leadership hopeful Jeremy Corbyn has said. | A debate on public ownership of firms is needed, but restoration of "Clause IV" is not a priority, leadership hopeful Jeremy Corbyn has said. |
| Earlier, he told the Independent on Sunday the party could restore Clause IV, its pledge to common ownership, or set up a similar commitment. | Earlier, he told the Independent on Sunday the party could restore Clause IV, its pledge to common ownership, or set up a similar commitment. |
| But he told the BBC more discussion was needed, after the leadership vote, to decide the party's economic direction. | But he told the BBC more discussion was needed, after the leadership vote, to decide the party's economic direction. |
| Leadership rival Liz Kendall told the IoS Clause IV belonged in the past. | Leadership rival Liz Kendall told the IoS Clause IV belonged in the past. |
| The clause, cementing Labour's commitment to common ownership, was scrapped by then leader Tony Blair in 1995. | The clause, cementing Labour's commitment to common ownership, was scrapped by then leader Tony Blair in 1995. |
| 'Natural monopolies' | 'Natural monopolies' |
| Mr Corbyn told the BBC: "Well I opposed his change then and obviously didn't agree with the wording that he chose. I don't see that as the absolute priority that we're talking about at the moment. | Mr Corbyn told the BBC: "Well I opposed his change then and obviously didn't agree with the wording that he chose. I don't see that as the absolute priority that we're talking about at the moment. |
| "What I see is the greater democratisation of our party - bottom-up policy making rather than top-down decision-making - and that is what is attracting a lot of people to the Labour party and into this discussion." | "What I see is the greater democratisation of our party - bottom-up policy making rather than top-down decision-making - and that is what is attracting a lot of people to the Labour party and into this discussion." |
| He added: "We want our railway system and our Post Office - Royal Mail rather - in public ownership, they are natural monopolies. | He added: "We want our railway system and our Post Office - Royal Mail rather - in public ownership, they are natural monopolies. |
| "We are looking at the whole question of the energy industry, the excessive profit-taking of the 'big six' and the subsidies we give to the big six and the subsidies we put into nuclear clean-ups." | "We are looking at the whole question of the energy industry, the excessive profit-taking of the 'big six' and the subsidies we give to the big six and the subsidies we put into nuclear clean-ups." |
| He said that he was proposing a national investment bank, which would be "investing in new industries, investing in new jobs, investing in sustainable development" and he wanted more co-operatives. | He said that he was proposing a national investment bank, which would be "investing in new industries, investing in new jobs, investing in sustainable development" and he wanted more co-operatives. |
| Earlier, he told the IoS: "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." | Earlier, he told the IoS: "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." |
| Mr Blair's move to ditch the long-standing commitment in Labour's constitution to public ownership, soon after he became party leader, was seen by some as a symbolic step which made the party more electable in the post-Margaret Thatcher era. | Mr Blair's move to ditch the long-standing commitment in Labour's constitution to public ownership, soon after he became party leader, 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". |
| Analysis by Ben Wright, BBC political correspondent | Analysis by Ben Wright, BBC political correspondent |
| 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. |
| Mr Corbyn has already promised to renationalise energy companies and the railways and increase public spending on industry. One of Mr Corbyn's leadership rivals, Ms Kendall, condemned the idea as a "throwback to the past". | Mr Corbyn has already promised to renationalise energy companies and the railways and increase public spending on industry. One of Mr Corbyn's leadership rivals, Ms Kendall, condemned the idea as a "throwback to the past". |
| Some party donors are alarmed by the prospect of a Corbyn win too. | Some party donors are alarmed by the prospect of a 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". | 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 Ms Kendall, Yvette Cooper and Andy Burnham. | Mr Corbyn is one of four candidates standing in next month's Labour leader election, alongside Ms Kendall, Yvette Cooper and Andy Burnham. |
| Ms Kendall - the leadership challenger seen as being the closest to Mr Blair's policies - fiercely condemned the suggestion that Clause IV could be reintroduced. | Ms Kendall - the leadership challenger seen as being the closest to Mr Blair's policies - fiercely condemned the suggestion that Clause IV could be reintroduced. |
| "Life has moved on from the old Clause IV in 1994, let alone 2015," she said. "We are a party of the future, not a preservation society." | |
| Fellow leadership contender Yvette Cooper said Labour did not need a return to "the days of British Leyland". | |
| "Labour needs radical ideas for the future, not to turn the clock back," she said. | |
| But former deputy prime minister John Prescott said the suggestion that Clause IV could be revived had echoes of Labour under Tony Blair. | But former deputy prime minister John Prescott said the suggestion that Clause IV could be revived had echoes of Labour under Tony Blair. |
| "Tony Blair took the view that it was indicating to the public a change in direction. Now, I think that is what Jeremy is doing here. He's actually announcing it - presumably with the party to decide - and is wanting to show a different direction to which we're going. So in a way it has that kind of ideology which the party will debate and listen to." | "Tony Blair took the view that it was indicating to the public a change in direction. Now, I think that is what Jeremy is doing here. He's actually announcing it - presumably with the party to decide - and is wanting to show a different direction to which we're going. So in a way it has that kind of ideology which the party will debate and listen to." |
| Labour leadership contest | Labour leadership contest |
| At-a-glance profiles of the four contenders | At-a-glance profiles of the four contenders |