JEREMY Corbyn will force Brits to sell their land at a fraction of its value so he can go on the biggest housebuilding drive in 50 years if he becomes PM.
The Labour boss will tomorrow vow to “fix” Britain’s housing crisis as he launches his party’s most left-wing manifesto ever.
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He will promise to build another 150,000 council and social homes a year by 2024 — the biggest house building programme since 1967.
But controversially, Labour plan to create an English Sovereign Land Trust to buy land at knock-down rates to put the new homes on.
Critics accused Mr Corbyn of adopting the policies of a “banana republic” which would put off builders and cost jobs.
Land is currently sold at a price which takes into account the value it has with planning permission.
The Trust would be able to demand the land at the far lower price of its current use, for example the standard price of a field.
Mr Corbyn said: “I am determined to create a society where working-class communities and young people have access to affordable, good quality council and social homes.
“Everyone knows someone affected by the housing crisis. Labour is offering real change to fix it.”
Shadow Housing Secretary John Healey added: “The next Labour Government will kick start a housing revolution, with the biggest investment in council and social homes seen for decades.”
Free market think-tanks said the policy smacks of Venezuelan-style war on property rights.
Matthew Lesh, at the Adam Smith Institute, said: “This Christmas the Grinch won’t just be stealing your presents, Jeremy Corbyn wants to steal your entire home.
“Labour’s land grab policy is the strategy of a banana republic, perhaps befitting a man who idolises Venezuela.
“The end of secure private property rights would scare away investment and entrepreneurs who create products and hire people.”
This Christmas the Grinch won’t just be stealing your presents, Jeremy Corbyn wants to steal your entire home.
Matthew Lesh
Dr Kristian Niemietz, of the Institute of Economic Affairs, stormed: “The Labour Party’s plans to introduce a state-run land trust undermines property rights and would do nothing to solve the housing crisis.”
But charity Shelter said Labour’s plan would be “transformational” and could help end the crisis.
Mr Corbyn and Shadow Chancellor John McDonnell will declare class war on “the bankers, billionaires and the establishment” when they launches their manifesto in Birmingham tomorrow.
Mr Corbyn will say: “They know we will go after tax dodgers, the bad bosses and the big polluters so that everybody in our country gets a fair chance in life.
“That’s why they throw everything they’ve got at us. Because they’re scared of real change. Because they aren’t on your side.”
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