 Thank you. I take it that applause was for Bill Shankly. I just want to say something personal before I start. Some of you may know over the recent period our friends in the media have not been as supportive as maybe we would like them to have been. And they've attacked my friend. They've attacked him because he stands up for the ideals and beliefs that we all have. I just want to say Jeremy, I'm proud I am of you for the dignity in which you've withstood that vilification. I've got a sore throat. I'm losing my voice. I've been talking too much and I might have a Theresa May moment so if the backdrop starts falling apart will you let me know. I want to say thanks to the people, look I speak the words, I want to say thanks to the people who do the real work. That's my treasury team. Peter Dowd, Secretary, Jonathan Reynolds, Annalise Dobbs, Pryde Lewis, Lynne Brown, Lord Dennis Tunnicliff and Lord Brian Davis. And our team have got a special thanks as well to my parliamentary private secretary, Thelma Walker. She joined us this year because she won Cone Valley back from the Tories. This month is the 10th anniversary of the financial crash. JK Galbraith in his book on the 29 crash said sure you can try and create institutions that seek to avoid crashes in the future. But the best protection is memory. So it's worth remembering the causes of the crash. They were greed. Yes and the deregulation that turned the city into a multi-pillion pound casino. But more importantly it was caused by the power that a small financial elite exercises over our political system. That power meant the bankers and speculators who caused the crisis wouldn't be the ones who paid for it. It would be our families, working people, our businesses, our young and especially the most vulnerable in our society. And it's been eight hard years of austerity and economic failure in the sixth richest country in the world. It cannot be right that 5,000 of our fellow citizens are sleeping on the streets. It cannot be right. It can't be right for million of our children are living in poverty. Two thirds of them are in households where someone is in work. That tells you that wages are so low. Below the levels of 2010 the wages not sufficient to provide a decent standard of life for many of our people. The toys have created an age of insecurity where people have little if any control or power over their lives. So there's no wonder that so many people voted for Brexit. It was an anti-establishment vote. So I believe it's time to shift the balance of power in this country. It's time to give people back control over their lives. You know there's another anniversary this year. It's 100 years ago in 1918 the Labour Party adopted clause four as part of our party's constitution. Let me remind you what it said. To secure for the workers by hand or brain the full fruits of their industry. I say the clause four principles are as relevant today as they were back then. It is fair, fair democratic collective solutions to the challenges of our modern economy. You know the Labour movement has always believed that democracy shouldn't stop when we clock on at the factory gate or in the office lobby or like my mum behind the BHS counter. Democracy is at the heart of our socialism and extending it should always be our goal. Our predecessors fought for democracy in parliament against the divine right of kings and the aristocracy. They fought for working people to get the franchise. Our sisters fought for women's suffrage in the teeth of ferocious opposition. On our movement our movement fought for workers to have a voice at work and the trade unions. The trade unions founded this party to take that democratic vision even further. So in 2018 I tell you that at the heart of our programme is the greatest extension of economic democratic rights that this country has ever seen and it starts in the workplace. It's undeniable now that the bounce of power at work has been tipped against the worker. The result is long hours, low productivity, low pay and the insecurity of zero hours contracts. I want to thank the IPPR for its recent report. It was a brilliant critique of the inequality embedded in today's economy. Archbishop Welby took some stick in the media and some in the establishment for his support for the report. He wasn't engaging in party politics. He was simply speaking the truth as a moral leader in our society. Just a few words of advice for the Archbishop. Archbishop when they get round to call you a Marxist I'll give you some tips on how to handle it. Okay so I want you all to be certain. I want the country to be certain. We will redress the balance of power at work. First we'll be proud to fulfil our late leaders promise, John Smith's promise, that workers will have trade union rights from day one whether in full time, part time or temporary work. Day one. We will lift people out of poverty. We'll lift them out of poverty by setting a real living wage of £10 an hour when we go back into government. Wages will be determined by sexual collective bargaining. And yes, we'll make it a mission of our government that we will tackle the continued scandal of the gender pay gap that hurts so many women within our society. Real power comes from having the right to a collective say at work. Large corporations have played a huge role in our lives, yet the decisions about the running of them are in the hands of a tiny elite. Employees who create the wealth have no say in the key decisions that affect their future. So after decades, decades of talking about industrial democracy, Labour and government will legislate to implement it. And as Jeremy announced yesterday, a third of the seats on company boards will be allocated to workers so they have democratic rights at work again. Power also comes from ownership. We believe that workers who create the wealth of a company should share in its ownership. And yes, in the returns that it makes. Employee ownership increases a company's productivity and encourages long term decision making. So let me thank the co-op party and in particular Gareth Thomas MP for his ideas on how we extend common ownership within our society. And some of the ideas we're saying today. I can announce today we will legislate for large companies to transfer shares into an inclusive ownership fund. The shares will be held and managed collectively by the workers. The shareholders will give the workers the same rights as other shareholders to have a say over the direction of their company. And yes, dividend payments will be made directly to the workers from the fund. That means payments could be up to 500 pounds a year. That's 11 million workers, each with a greater say and a greater stake in the rewards of their labour. True industrial democracy coming to this country. We all know it's not just the employees of a company that create the profit it generates. It's the collective investment in infrastructure, in education and research and development that we as a society make that enables entrepreneurs to build and grow their businesses. So we believe it's right that society shares in the benefits that that investment produces. That's why proportion of the revenues generated by the inclusive ownership funds will be transferred back to our public services as a social dividend. So over time, this will, over time, this will over time, this will mobilise billions that will be spent supporting our schools, our hospitals and our social security system. You know, you know now we're proud. We're going to extend economic democracy even further in this country. How? By bringing water, energy, royal mail, rail mail, rail mail, and rail mail back into public ownership again. You know, some of the press said the voters would be horrified. They couldn't have been more wrong. Public ownership has proved its popularity in opinion poll after opinion poll, but it's not surprise. Look at the scandal of the privatisation of water. Water bills have risen 40% in real terms since a gydaniaentf90 pwysiedig, o'r ddull rydydd sy'n cerdwnau'r credys i Llw Guyadau dda dweud. Mae hynny'n ddiweddyniaeth o'r ddullion o adnodau gyda'r dwiadowadau a cynnaenwyr sy'n cyffordiant o'r stangyr, sy'n cyffordiant o ddweud o'r ddweud o ddullion cyfodol. Gwydwch chi weithio, mae Llywodraeth wedi wneud am y gynhywethe ar y cyfrannau. Nifer maGyfnol gyda'r duadau i'r ddullion and I will be here! много y dwi'n iawn i ddechrau'n ddweud at a ddechrau'n ddweud at oedduri sydd ar ni'n ei ddechrau a phoblid na'r ddechrau cyf комп ni wedi'i ddechrau! Dechrau'n ddweud ar ysgol a'r sgolwyr i'r ddechrau ar hyn o fe f Ozion yw ni i ddechrau ar ysgolwyr i ddweud ar ni'n ddechrau ar ysgolwyr ac yn ei ddechrau ar i ddechrau, and transparency in how the industry will be managed in the future. We're ending. Let's be absolutely clear. We're ending the profiteering, the dividends, the vast executive salaries and the excessive pay interest payments that have been made that has sat this sector. And the surplices will be reinvested in water infrastructure and staff or to use to reduce the bills and real investment will allow the highest environmental standards as well. People, for messages clear, people have just had enough of being ripped off by privatisation and that's why we've said as you know, no more PFI's, no more PFI's and we'll bring them back in here so to drive our public ownership programme absolutely through in government, we'll set up a dwarf o rsiadol yn gydech. Dyna'n rhaid i'r o wahanol, ac yn gallu sydd agchai'r wahanol sydd credu'r penderfyniad arwad i'r llwyffyr yn sefaith. Llanconiadau'i amdalach er mwyn railway o'r llwyffyr yn gyda'r penderfyniad ar bynangol i lda'r plwyffyr o'r ffinwyr. Mae hyn o ffinwyr i'r cyffredur gyd. Mae hyn o'r wahanol i'r plwyffyr. Pan yn fyddiant a fyddi ac yn y bydd y torddol. Thrydd ychydig yn dda'r cyffredur ag y cyffredur. or a wish list attractive but ultimately not deliverable. I'm telling you today we're planned. We're ready and we're prepared not just to fight another election campaign but to implement that programme when we win that election and when we will, when we will, we're going to take firm control with investment decisions by government. For too long the establishment has used the Treasury as a barrier against putting power back in the hands of people. So we will reprogram the Treasury. We're going to rewrite its rule books on how it makes its decisions about what and when and where to invest. We will end the Treasury bias against investing in the regions and the nations outside of London. And we'll make sure assessor's spending, all those spending decisions against the need to tackle climate change, to protect our environment, to drive up productivity and meet the investment challenges of the fourth industrial revolution. We need now to exert some people power over our tax system as well. Let me just say this, there are millions of businesses out there which deserve our respect and we will always support. They're responsible, ethical entrepreneurs who pay their taxes and support our community. They should know how proud we are of them. But there's a minority who don't live up to those standards. They avoid paying their taxes, yes, on an industrial scale. They're denying our hospitals, our schools and carers the resources that they need. The Tories record on tackling tax avoidance and money laundering has been a disgrace. So we can't trust the Tories on this but we shouldn't just wait until we get into government. We should act now. One way is to mobilise shareholder power to demand companies uphold basic tax justice standards. Numerous institutions, yes, from trade unions to churches and pension funds, have large-scale shareholdings in many of the companies that are continuing to avoid their taxes. So today I'm announcing my intention is to bring together these organisations to launch a shareholder campaign. We'll be demanding that companies sign up to the fair tax mark standards, demonstrating transparently that they pay their fair share of taxes. So the warning, so the warning, make it clear and make it loud, the warning to the tax avoiders. The game is over, over. Recently Gordon Brown, Gordon's got a great sense of humour. I was on a platform with him not a short while ago when there was announced that I was the shadow chancellor and Gordon said actually he's always been the shadow chancellor. I have a lot of affection and respect for the man. Again I want to say to, we may not have voted always the same way. I have a lot of respect for him. Recently Gordon I think made a very important statement. He expressed his concern at the current weaknesses in the global relationships to deal with any potential future economic crises. I agree. With major nations on the brink of a trade war and with climate change accelerating, we can't risk the international breakdown that led to the great recession, the depression itself. As the Bretton Woods conference in 1944, there's an urgent need now to work out if the current international system can cope with these threats. Over the past few decades that system has concentrated power in the hands of an international financial elite. Individuals, communities and even nation states have been made increasingly powerless. It isn't working for the western world where stagnant wages have helped feed the rise of the racist right. And it isn't working certainly for the developing world whose wealth is plundered by multinational corporations or stashed in western banks. So what we're going to do now, we're taking this matter seriously as Gordon advised it should be. We'll be convening in the spring an international social forum to bring together leading economists, politicians and civil society representatives. We're going to launch a dialogue on the common risks we face and the actions we need to take. And I'm really pleased to announce that Nobel Prize winning economist Joseph Stiglitz has agreed to lead this discussion for us. Thank you, Joseph. This leads us on inevitably to the urgent question of Brexit. Though I don't have to repeat the criticisms we all have of the Tories behaviour that have been echoed in all our debates. Their failures are in plain sight. I just say to the Tories, just in the interest of the country, get out of the way and let us get on with securing a way forward. A way forward that will protect our economy, our jobs and the standard of living of our people. If they don't do that, you know what my preference is, I want a general election. I want it soon. We're keeping all the options open for democratic engagement on the table. Look, I feel so strongly that these Tories should face the people. Face the people for the way in which they've recklessly put our country's future at risk over the last two years. More interested in fighting each other than fighting for this country. On so many fronts, you know the scale of the mess that we will inherit from the Tories. A society whose social fabric has been run down to the point of near dereliction. A struggling, mismanaged economy vulnerable to another crisis. Past shadow chances have come to conference with warnings about how bad the situation will be that we inherit to lower people's expectations about what can be achieved when we go into government. This shadow chance is different. I want you to know the greater the mess we inherit, the more radical we have to be. The greater the need for change, the greater the opportunity we have to create that change. And we will, we will. The Tories, the Tories austerity has been brutal. But whatever has entered the most is that they've tried to take away the dreams, the hope and optimism of our people, especially our young people. That dream of building a better world. That dream of building a better world and passing it on to your children as previous generations have done. But they failed to understand us. They failed to understand that we have an unwavering faith that together people can change the world. And they need to understand we will not settle for anything less. Yesterday the Tories, well, it was reported in the press that the Tories were drawing up secret plans for a quick general election. So the message from this conference is bring it on. Bring it on. Whenever, whenever that general election comes, we're ready, we're ready to campaign for victory. We're ready for government. We're ready to build the future. And you know, like Bill Shankley, we'll be proud to call that future socialism solidarity.